MUMBAI: Fox Interactive Media (FIM) has completed two acquisitions of early stage companies, Newroo Inc. and kSolo.com. Newroo has developed an intelligent tool that scans the web and finds the most relevant information for users from thousands of websites, enabling them to easily create their own web sites by aggregating and remixing content from third-party websites and blogs.
kSolo.com is a user-generated music service that enables its community to easily create, share and rate their own recorded music and connect around shared tastes in music genre and style.
"Fox Interactive Media's acquisitions of Newroo and kSolo demonstrate our commitment to empowering users with interesting tools that they can use to further enhance their online experience and online identity," says Fox Interactive Media president Ross Levinsohn. "The acquisitions further validate FIM's ability to unearth early stage, technically savvy web 2.0 companies led by entrepreneurial, forward-thinking management teams."
"We are excited to bring both our technology and music community to the Fox Interactive Media family of web companies. We look forward to working with them to build the next generation of online music experiences for consumers," said Nimrod Lev, founder and CEO of kSolo.com.
"We were attracted to Fox Interactive Media because they quickly grasped our vision to provide web users with a powerful tool set to create decentralized vertical content websites around people's passions and interests," added Dan Gould and Brian Norgard, co-founders of Newroo.
Financial terms of the deals were not disclosed. Both technologies will be deployed across relevant sites in the growing FIM Network, said a company statement.
FIM is building an integrated network of sites that offer its more than 70 million worldwide users socially rich media experiences centered on entertainment, news, information and self-expression. The company's network includes internet assets from News Corp. divisions, including Foxsports.com, Americanidol.com and Fox.com. Other online portals FIM also owns and operates include social networking portal MySpace.com, gaming and entertainment site IGN.com, collegiate and pro sports network Scout.com and men's lifestyle portal AskMen.com.
