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Valleywag
Why was a roomful of venture capitalists and lawyers clinking champagne glasses at Zibibbo in Palo Alto last week? The target of their fulsome praise was entrepreneur Anthony Soohoo, a former Yahoo executive. And the reason? He had managed to flip his website Dotspotter, yet another celebrity gossip site with thoroughly derivative social-networking features, to CBS for a quick $10 million. Dotspotter's short one-year lifepspan didn't scare off serial charmer Quincy Smith, the startup-mad head of CBS Interactive. Having bought financial videoblog Wallstrip and Web-based social music site Last.fm, we can only conclude that Smith's strategy is to buy a lot of startups, throw them against the wall, and see what sticks. Nice work, especially when CBS shareholders are footing the bill. And who's receiving the checks? One of Dotspotter's beneficiaries, we hear, is Facebook CFO Gideon Yu. Nice to have a backup plan in case all those social networks turn out to be a fad.
CBS eyes gossip site for $10 million
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3:57 PM on Wed Oct 10 2007
By Megan McCarthy
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Here’s the latest: 1) Another Googler goes to Facebook, to head its developer platform 2) Facebook traffic apparently took a dip last month 3) Madonna latest in string of musicians to ditch record labels 4) Mozilla preparing mobile web browser, may improve mobile web user experience?
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