If Euniverse had bought funphone instead of funone I bet they would not have the troubles that they have today.
eUniverse to Acquire FunOne.com.
Author/s:
Issue: Oct 13, 1999
eUniverse Has Signed a Definitive Agreement to Acquire FunOne.com,
Adding Unique Entertainment Property to the eUniverse Network
WALLINGFORD, Conn., Oct. 13 /PRNewswire/ -- eUniverse, Inc. (OTC Bulletin Board: EUNI), an entertainment community and ecommerce network with more than 2.5 million unique users, today announced that a binding letter of intent has been signed to acquire FunOne.com (http://www.funone.com). Founded in 1998, FunOne is an entertainment and community hub, with over 250,000 unique visitors per month (as reported by Media Metrix).
"The acquisition of FunOne further demonstrates the rapid growth of eUniverse," said Brad Greenspan, Chairman of eUniverse, Inc. "I am pleased to report that this marks our fifth acquisition since becoming publicly traded in April of this year. Through each new property we add we expand the eUniverse reach and add greater value to the network as a whole. As we continue to grow, we are establishing eUniverse as the premier entertainment destination for 'Generation Web'."
FunOne, "the Official Home of Fun," provides online greetings, cartoons, joke lists and gags. Subscribers can receive weekly jokes and send fun electronic greetings to their friends. Upon the closing of the acquisition, which is expected within 30 days, FunOne founder and CEO Don Burgess will continue to maintain operations for the company.
"By becoming part of the eUniverse network of sites, FunOne is opening wonderfully exciting new doors for its members," said Don Burgess, FunOne CEO. "There is a perfect synergy between the eUniverse network of commerce and entertainment sites, and the FunOne service. I, personally, am very happy to have the opportunity to join this dynamic company and provide FunOne visitors with even more venues for enjoyment."
Through acquisitions and strategic deals with other vendors, eUniverse's Internet traffic has increased significantly from 800,000 unique visitors in April 1999 to over 2,500,000 in September 1999.
About eUniverse, Inc. (http://www.euniverse.com)
eUniverse, Inc. is a network of entertainment-focused commerce, community, and editorial Web sites. Its online commerce properties include: CDUniverse (http://www.cduniverse.com), VideoUniverse (http://www.videouniverse.com), and the recently launched GamesUniverse (http://www.gamesuniverse.com). Its leading community and content sites include a combination of popular interactive entertainment editorial and event sites that include Case's Ladder (http://www.casesladder.com), Gamer's Alliance (http://www.gagames.com) and BigNetwork (http://www.bignetwork.com). eUniverse recently launched LivePlace, an advanced community-building product which features instant messaging, chat, and co-browsing technology. eUniverse is headquartered in Wallingford, CT and maintains an office in San Francisco, CA.
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