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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.

• Abscbn Multiply • Abs Cbn Buys Into MultiplyThe purchase was for 5% of Multiply which costs $5 million or close to Php250 million.

Realme Philippines

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. You Can follow him on Twitter @abeolandres.

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11 years ago

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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