Monday, May 3, 2010

OVGuide Merges With IBeatYou

Beverly Hills-based OVGuide.com, the online video search site backed by Geocities' David Bohnett, has merged with IBeatYou, according to a regulatory filing Monday. The deal was worth $2.975M, with $1.487M in earnout. No details on the transaction have been released by either of the firms, however, Abdul Khan, founder of IBeatYou, confirmed that the merger had happened, saying that the move allows the site to become part of a larger company with more scale and reach. Khan said, "We've been working with OVGuide for awhile now, and we finally finalized this," explaining that IBY will still exist as a separate entity, and that he and his team will continue to be running the site. Khan said that the move gives them a "larger home" with many more uniques and reach.