ABS CBN buys into Multiply

In a surprise move, TV giant ABS-CBN has announced yesterday that it has bought a minority stake into social networking site, Multiply.

The purchase was for 5% of Multiply which costs $5 million or close to Php250 million.

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A year ago this month, ABS-CBN first went into an advertising deal with Multiply. It looks like that deal got a lot of traction and the media giant saw great potential.

ABS-CBN will continue to monetize the social networking site thru traditional CPM-based advertising and offering mobile service. They’ve even added a clause that will enable ABS-CBN to buy as much as 10% of Multiply. I think they’d be able to recover that investment in less than 5 years.

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Avatar for Abe Olandres

Abe is the founder and Editor-in-Chief of YugaTech with over 20 years of experience in the technology industry. He is one of the pioneers of blogging in the country and considered by many as the Father of Tech Blogging in the Philippines. He is also a technology consultant, a tech columnist with several national publications, resource speaker and mentor/advisor to several start-up companies.

23 Responses

  1. Avatar for arch arch says:

    Where’s multiply now? :P

    Facebook and Twitter are the only sites visited by Filipinos (and even in other countries) the most. Poor ABS-CBN, doing some wrong marketing move. Wasted money :P

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