Friday, January 04, 2008

Plaxo On The Sales Block!

SAN FRANCISCO, Jan 3 (Reuters) - Plaxo, a site that helps users keep their friends' contact information up to date, is considering a sale of the company for as much as $200 million, media reports said on Thursday.

Plaxo is seeking as much as $100 million and has hired Revolution Partners to advise it on a deal, the New York Times reported, citing people briefed on the offering.

Private Equity Hub, a blog edited by Thomson Financial editor-at-large Daniel Primack, said Plaxo was considering an unsolicited offer of about $200 million, but had not retained any bank to advise it.

Officials from Plaxo and Revolution could not be reached for comment. Fast-growing social networks like privately held Facebook and LinkedIn might be interested in acquiring Plaxo despite its "flat growth" in 2006 to 2007, said Michael Osterman, head of messaging research and consulting firm Osterman Research.

"It might make sense for a consumer-oriented social network (like Facebook) to acquire a business-oriented social network" like Plaxo, he said.

You continue reading more at Reuters.

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