Live Universe [1] has agreed to acquire Jangl's assets and remaining staff. Last week, Jangl's founders and five engineers split to Jajah after the company failed to find a buyer and its board was unwilling to raise more capital.
Live Universe is an online entertainment network lead by the founder of MySpace and the company operates websites across "core verticals" of video, social networking, and music. With a network reach of 56 million unique visitors in June 2007 (Comscore) and sites high in the 16-36 demographic and Jangl's emphasis on adding voice to social networking, it would appear that the two companies are a good fit. There's also some interest in what might happen to Jangl's existing deals with social networking sites Facebook, Bebo, Match.com, Frendster, and others now that Live is taking over.
Jangle's tale of woe started last fall when its board said it wasn't going to raise more venture money and management needed to find a buyer. A deal to be acquired by WhitePages.com fell through and founder Michael Cerda announced his departure through a personal blog posting on May 7.
For more:
- TechCrunch's blog on Live
Universe Buying Jangl [2] leftovers
Related articles:
Jangl
and TalkPlus On the Block [3]
Michael Cerda's blog on Jangl
and Jajah [4]
Links:
[1] http://www.liveuniverse.com/
[2] http://www.techcrunch.com/2008/05/16/live-universe-picking-up-jangls-pieces/
[3] http://www.fierceenterprisecommunications.com/story/jangl-and-talkplus-block/2008-05-11?utm_medium=rss&utm_source=rss&cmp-id=OTC-RSS-FV0
[4] http://cerdafied.typepad.com/cerdafied_voip_mobile_web/2008/05/giant-steps-are.html