Thursday, October 25, 2007

CNET Sells Webshots To American Greetings

San Francisco-based publisher CNET Networks said Thursday afternoon that it has sold its Webshots business to American Greetings, in a deal worth approximately $45M in cash. Webshots is an online photo sharing web site. Webshots runs a web site which allows members to share photos, videos, and slideshows. CNET acquired Webshots in July of 2004 for $60M in cash plus $10M in earnout.