This Monday CBS joined the acquisition bandwagon and bought the popular online video site Wallstrip.com. Purchased for a price in the single-digit millions (rumors are around $5 million but this has been disputed) after having been online for less than a year, Wallstrip is a fantastic success story. Investor & creator Howard Lindzon’s blog announced the purchase and he sent his thanks to those involved.Congrats Wallstrip!
Apart from the fact that Wallstrip deserves this good fortune (it IS a great site), what I find the most interesting is that Wallstrip’s success came about, in part, thanks to Google. Yes, I said Google, and no Google did not have a financial stake in Wallstrip. Google owns YouTube and YouTube provided the free video hosting and feed services that allowed Wallstrip to function. It is fascinating that a free service can provide a platform where an idea can become an acquisition.
Wallstrip put out a clever announcement which Lindsay Campbell (one of the winners in this deal) hosts. It is definitely worth a viewing for a good laugh.