eBaumsWorld Media Portal Acquired by HandHeld Entertainment
A brief glance at the past. eBaum’s World site was founded (as the source for the masses featuring media such as videos, Flash cartoons and web games) in 1998 by Eric Bauman.
According to paidContent, HandHeld Entertainment has purchased the popular video portal for $15 million in cash and another $2.5 million in stock. Current estimates suggest a possible total of $ 52.5 million in cash and stock over the next three years.
According to HandHeld, the user-generated site (the rest consider it as a stealing content portal tossing their watermarks on it, etc.) had about $5.2 million in revenue and $1.6 million net income in 2006.
Profy writes: “According to Michael Inouye, a research analyst with In-Stat, “HandHeld has instantly become one of the leaders in online video and user-generated content and is now rubbing shoulders with YouTube and the video networks of such companies as Yahoo!, Microsoft, AOL and Google.
Should we compare Yahoo!, Microsoft, AOL and Google with eBaum’s World and YouTube that are occasionally charged with stealing user-generated content or using illegal copyrighted material?!
Technorati Tags: ebaums world, online video, video sharing, user-generated content, web tv, television, websites, video on demand, funny videos, HandHeld, copyright, google, yahoo, aol, mucrosoft, video portal, popular videos, flash, web games
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