Wednesday, May 14, 2008

Comcast Buys Plaxo

Mountain View-based Plaxo, a developer of a social networking service focused on keeping up with contacts, has been acquired by Comcast. Financial terms of the deal were not disclosed. According to Plaxo, the firm will remain an independent operation in Silicon Valley, reporting into Comcast Interactive Media. Plaxo currently has 40 employees, who will join Comcast. Plaxo was backed by Cisco Corp., Globespan Capital Partners, Sequoia Capital, and others; the firm originally started as a provider of email and contact management software, and recently switched to focus on the social networking area.