Fred,
I would have to guess that Stay RECEIVED cash and mylife.com stock for giving idealab! an equity position. I would be shocked to see stay giving up any hard to come by cash. maybe you should call the company and see, i'd be interested as well. Will be thrilled if Stay got money, will be *pissed* if stay gave away money. Let's find out.
Usually incubators invest in companies, so i would imagine idealab gave cash and stock of mylife for this deal. Anybody out there know the terms?????
Stayhealthy.com, MyLife.com to Fold Into Health Web Site
By KAREN KAPLAN, Times Staff Writer
Stayhealthy.com, a health-related Web site based in Monrovia, will announce today that it will acquire fledgling Idealab start-up MyLife.com. Idealab, the Pasadena-based Internet incubator that launched EToys and Goto.com, will receive a "significant equity position" as a result of the cash and stock deal, the companies said. The value of the deal was not disclosed.
Stayhealthy.com sells devices that allow individuals to track their blood pressure, cholesterol, body fat and other measurements. The site also includes news, drug information, a calorie counter and a discussion board. MyLife.com's site features surveys and other interactive aids to help visitors stay healthy, and they will be folded into the 5-year-old Stayhealthy.com site.
Stayhealthy.com Chief Executive John Collins will continue to run the company, and MyLife.com founding executive Drew Skarupa will become its chief financial officer. The company will have 35 employees when the acquisition is complete. |
