Kaboose scoops up Bubbleshare
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Albert Lai has done it again and claimed his second successful business venture, BubbleShare.com. He and his other business partners have completed the sale of Toronto’s Kaboose which is the “largest independent, family-focused online media company in North America.” for US$2.25 milllion plus another US$750,000 based on an earn-out provision. This is great and just shows that Canada Internet industry, specifically “Web 2.0″ is thriving. There were rumors of the sale late last year to News Corp but talks ended shortly after the rumors. Mark Evans had a chance to talk with Kaboose’s CEO, Jason DeZwirek who said “We are very acquisitive company. This is our ninth acquisition. Our company has been built on acquisitions. This is the first time we have really bought tools and applications or technology.”
BubbleShare grew fast and quickly to be a popular player in the photo sharing space, but ultimately it would not be able to beat Flickr as the top photo sharing site with its deep financial pockets with its parent company Yahoo behind also Canadian founders. Social networking sites are fighting hard for users and more importantly keep them active in their communities and this acquisition will give Kaboose a “temporarily” leg up on such competitors.
Congratulations to Albert and team on all the hard work they’ve put in, now enjoy the fruits of your labour.
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[...] very familiar to sites have already been providing these type of services for a long time and ones with deeper pockets and even deeper than that. Time will tell whether this new venture comes out with a more robust [...]