LiveJournal Sold To Russian Media Firm
It was announced on Sunday that LiveJournal, the personal blogging site, which popularized the online activity in Russia, has been sold to a Russian business partner by its U.S. owner. The Russian acquirer will operate the business independently.
SUP, a Russian-focused online media firm run by a British and American team acquired LiveJournal for an undisclosed amount from Six Apart Ltd. SUP is responsible for expanding the business in Russia over the past year.
The ad-supported blog site has a count of 14.3 million blog accounts and about 20 million unique users a month with over 150,000 new posts put up a day according to Reuters. Andrew Paulson, SUP’s CEO said in an interview with Reuters that “The deal will allow LiveJournal to get the attention, and frankly, the investment, to allow it to flourish.”
While SUP will be opening up a LiveJournal Inc. company based in San Francisco, Six Apart will continue to supply advertising and other services to the company. The report continued that the LiveJournal users are hesitant that the new innovations planned for the company may turn the site into just another social network.
In the U.S. two-thirds of the LiveJournal users are female ages 15-20, where in Russia, 58% of the users are male and the site is known to attract intellectuals and functions as an alternative forum for many of the best-known authors in the country. “Historically, it is a group of people with very, very strong opinions,” said Paulson.
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