Report: Glam Media to snub billion-dollar buyout offer
VentureBeat reports that the ads-and-content network is turning down $1.3 billion in favor of becoming even bigger. Is an IPO on its road map?
Glam Media has always been adamant that it's not just another ad network, something it reiterated when it announced afor its member sites this week.
But apparently, some big company really thinks that Glam's something special. Amid the gossipy deal making of the D6 Conference, someone at tech money blog VentureBeat heard that Glam had just received a $1.3 billion acquisition offer that it plans to turn down.
The reason it plans to shug off the offer, according to VentureBeat, is that--which include Accel Partners and Hubert Burda Media--"see a bigger opportunity for Glam to build a large business for high-end display advertising." That might mean an initial public offering.
So who is the spurned suitor, if VentureBeat's report is correct? I don't think it would be Google or Yahoo--or Microsoft, for that matter. My money's on a big "old media" company, or possibly a massive ad industry player looking to expand its digital footprint.
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