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Demand Media Buys Liveblogging Tool CoverItLive

March 3rd, 2011 03:05 admin Leave a comment Go to comments

On the heels of its entry to the public market, Demand Media has just acquired CoverItLive, a liveblogging tool. Financial terms of the deal were not disclosed.

CoverItLive provides an extensive tool one can use for liveblogging live events or other real-time stuff such as earnings calls, press conferences and more. In fact, this past weekend, CoverItLive powered liveblogs for the Oscar ceremonies on People, TMZ, Entertainment Weekly, Variety and the Daily Beast. Demand Media has originally made a strategic investment in CoveritLive back in 2009, acquiring a minority interest in the startup. With today’s acquisition, CoverItLive will become a platform within Demand Media’s portfolio of social “solutions.”

Chairman and CEO of Demand Media Richard Rosenblatt said of the acquisition: “CoveritLive really reflects our mission as a company – publishing what the world wants to know and share. Consumers around the world are tuning in by the millions to participate in live events powered by CoveritLive, collectively spending over a billion minutes on the platform each month.”

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Source: Demand Media Buys Liveblogging Tool CoverItLive

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