Russian media firm SUP buys US blogging company LiveJournal
SAN FRANCISCO (AFP) — Moscow-based SUP announced Monday it has bought blog-hosting firm LiveJournal as part of a plan to cultivate an international community of people that author such online diaries.
The Russian media company said it acquired LiveJournal from Six Apart Ltd. in San Francisco and that it will operate the blogging firm from this California city.
A party celebrating the deal is planned for Monday night in a chic San Francisco restaurant and the guest list includes the Six Apart mascot, a live goat.
Financial terms of the deal were not disclosed.
SUP began licensing LiveJournal blog-managing software from Six Apart slightly more than a year ago.
The Russian component of LiveJournal nearly doubled in users during that time period and now represents 28 percent of LiveJournal's more than 18 million monthly visitors, according to SUP.
"Having gotten to know LiveJournal in Russia over the past year we see enormous potential in developing the business worldwide," said SUP chief executive Andrew Paulson.
"We believe this is a great opportunity."
Along with a new management team, SUP promises "significant new investment" in LiveJournal.
Brad Fitzpatrick started LiveJournal in 1999 as a way to let his high school friends stay abreast of his life. Six Apart bought the company that operated LiveJournal in 2005.
Fitzpatrick recently left Six Apart for a job with Northern California Internet colossus Google but will remain on a LiveJournal advisory board created to oversee the firm's transition to SUP.
Online media company SUP was founded in 2006 with Russian capital and an international management team.
SUP operates popular Russian social networking website LiveJournal.ru; sports and entertainment website Championat.ru, and online advertising operations +SOL and Victory S.A.
