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Article: Yahoo Snaps Up Right Media for $680M
- Article from:
- AP Online
- Article date:
- April 30, 2007
CopyrightCopyright 2007 Associated Press/AP Online. This material is published under license from the publisher through YellowBrix, Alexandria, Virginia. All inquiries regarding rights should be directed to YellowBrix. (Hide copyright information)
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SAN FRANCISCO - Yahoo Inc. added another weapon in its high-stakes duel with its richer Internet rival Google Inc. Monday by snapping up online advertising exchange Right Media Inc. for $680 million.
Although the cash-and-stock price is well below the $3.1 billion that Google recently agreed to pay for online ad distributor DoubleClick Inc., Right Media didn't come cheaply for Sunnyvale-based Yahoo.
Last October, Right Media was valued at $200 million based on the $40 million that Yahoo paid to acquire a 20 percent stake in the privately held company at that time. Yahoo is now paying more than three times Right Media's valuation just six months ago to gain full ownership of an exchange ...