Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Having recently acquired online retailer BuySeasons Inc., Liberty Media Corp. now has an eye on the digital content and social networking market. To build a base in those markets, Liberty is making an undisclosed investment in GoPets Ltd.
Having recently acquired online retailer BuySeasons Inc., Liberty Media Corp. now has an eye on the digital content and social networking markets.
To build a base in those markets, Liberty Media, which owns and operates QVC, No. 14 in the Internet Retailer Top 500 Guide to Retail Web Sites, is making a substantial, but undisclosed, investment in GoPets Ltd.
Based in Seoul, South Korea, GoPets operates a global online entertainment network which allows users to form friendships across language barriers and country borders. The pets have distinctive personalities and learn from their exploration with other users and other pets, according to Liberty Media. GoPets has 400,000 registered users and a business goal of building a global and interactive social network.
“GoPets is a perfect marriage of casual gaming and social networking, targeted at the women’s audience that Liberty knows well,” says Liberty Media senior vice president Michael Zeisser. “GoPets is a compelling addition to our strategy.”
Liberty Media is making the investment to grow its social networking base and integrate social networking with its other e-commerce properties such as QVC. In September, GoPets launched a games platform, which enables third-party developers to create or adapt games and applications for the GoPets audience and to use the site’s economic and community features.