YP buys LiveDeal, classifieds site, for $12M

June 7, 2007 | Matt Marshall

YP Corp., of Mesa, Ariz, a provider of nationwide Internet Yellow Pages, said it has acquired LiveDeal, an online local classifieds and Yellow Pages site for about $12 million.

The announcement is here.

Under the terms of the acquisition, LiveDeal shareholders received 15,968,514 shares of YP common stock.

YP said it will use LiveDeal to merge four principal marketing channels – directories, mobile services, classifieds and advertising/distribution networks into a local marketing tool for businesses and consumers.

We wrote about LiveDeal two years ago.

As we reported, LiveDeal.com raised at least $4.9M in funding from Canadian media company Torstar Corp., Draper Richards and individuals. Given the amount of competition out there, this is a relatively good outcome.

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About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.