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April 11, 2008

BlackPlanet Purchased for $38 Million

Blackplanetlogo

One of the oldest and least talked about social networks, BlackPlanet, just made news.

BlackPlanet's parent company, CommunityConnect, has been purchased by Radio One, an "urban market" radio network for the grand total of $38 million,  a paltry sum by comparison these days.

The network which, as the name implies, targets the African-American community, is the 5th most trafficked social network, according to Hitwise.

Back to the statement I made earlier - "least talked about" - there doesn't appear to be much talk about  at all, at least not in the mainstream. Perhaps it's due to the fact that, while African-American consumers tend to use the Web for business, they favor socializing offline.

Of course, I'm looking from the outside in. I'd love to hear what socially-networked African-Americans have to say. Feel free to chime in.

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Comments

If you look closely, African Americans do socialize online. The fact that BlackPlanet is the fith largest social network site on the Internet is a statement unto itself.

When networking online it's all about the Green.