The New York Times is reporting that Yahoo is acquiring Bix.com, the site which allows advertisers to create, enter and judge online contests. Yahoo hopes to integrate the service into its social media and user generated media offerings.
Like Yahoo’s past acquisitions of del.icio.us and Flickr, Yahoo plans to let Bix.com continue to operate independently while integrating their technology and talent into the Yahoo Social Media umbrella.
From the New York Times:
Yahoo said it planned to keep Bix.com as a stand-alone site and also to integrate it with some of its other social media properties, which include Yahoo Groups, the social network Yahoo 360 and the photo-sharing site Flickr.
Bix.com, based in Palo Alto, Calif., has 16 employees and has received nearly $6.8 million from Trinity Ventures and Sutter Hill Ventures.
Mike Speiser, chief executive of Bix.com, said he had had discussions with media companies about using the site to screen participants for reality television shows. Mr. Speiser will become vice president for community at Yahoo.
How much did yahoo pay?
$10 Million