Yahoo is purchasing a news aggregation site called BuzzTracker for $5 million according to Kara Swisher at AllThingsD.
Buzztracker uses algorithms to search through over 110,000 hand-picked web sites, aggregating the most popular and interesting stories on its homepage. It will become part of Yahoo News, which claims to have 36 million unique visitors a month.
Buzztracker is somewhat similar to Techmeme and its affiliated aggregator sites, such as Memeorandum. BuzzTracker’s site features top stories on news, tech, sports, celebrity gossip, and other topics on a single page whereas Techmeme presents separate sites for separate audiences. For example, Buzztracker’s news of its sale to Yahoo appears on the site’s homepage (see screenshot).
BuzzTracker is the flagship product of Participate Media, which is being bought in its entirety: The entire staff will move to Yahoo, and Participate Media chief executive Alan Warms will become the vice president and general manager of Yahoo News.
The company has never taken on outside investment, according to Fred Wilson.
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