About.com

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About.com
Industry Internet
Founded May 1, 1997 (1997-05-01) (as The Mining Company)
Founder(s) Scott Kurnit
Headquarters New York City, New York, United States
Key people Neil Vogel
(CEO)
Owner(s) IAC/InterActiveCorp
Website About.com

About.com is an Internet-based network of content, providing articles and videos about various topics.[1] The site, visited each month by approximately 90 million users, competes with other online resource sites and encyclopedias such as Wikipedia.[2][3]

About.com was acquired by New York Times in February 2005,[3] which later announced plans to sell the site to IAC, owners of Ask.com and the Reference.com network, for $300 million.[4] The acquisition closed on September 24, 2012.[citation needed]

History[edit]

Originally founded in 1996 as the Mining Company, the site was launched on April 21, 1997 by Scott Kurnit, owner of General Internet; Bill Day and a group of other entrepreneurs in New York City.[5] The original goal was to maintain 1,800 topic areas, but after five years of operation, this number was reduced to 700. The original business plan offered writers a minimum rate of $250 a month or one-third of the advertising revenue generated within their topic area. The Mining Company also employed approximately 50 full-time staff for administration, advertising sales and the overall site-design work.

The company changed its name to About, Inc. and the website address from miningco.com to about.com in May 1999.[6] The renaming was partly to broaden the appeal of the site and the instant brand equity during the Internet bubble of using a simple word followed by dot-com as both site address and company name.[citation needed] The company was acquired by PriMedia (New York) in 2000 in a deal that valued About at $690 million.[7]

In February 2005, the New York Times Company announced it was buying About.com,[3] a purchase that was completed in the first half of the year for $410 million. Google along with Yahoo, AskJeeves, and AOL were reportedly among the other bidders.[8] In May 2005, the New York Times Company named Scott Meyer as president and CEO of About.com.[9]

On May 7, 2007, About.com acquired ConsumerSearch for $33 million.[10] In January 2008, the site's first fully owned foreign venture, the China-based Abang.com, debuted.[11]

In July 2011, Darline Jean was named CEO of the About Group replacing Cella Irvine who left the company in May 2011. Prior to being named CEO, Jean served as CFO of the company.[12] In June 2008, The New York Times Company named Cella M. Irvine as CEO of the About Group.[13] Irvine's appointment fills a seat that had been empty since March 2008 when CEO Scott Meyer left to head Evidon, the parent company of Ghostery.[14]

The domain about.com attracted at least 448 million visitors annually by 2008 according to an estimate by Compete.com, a web traffic analysis service.[15] Approximately 90% of users are redirected to About.com from search engines.[16]

In 2011, About.com launched About en Español, a channel of more than 100 sites in Spanish aimed at U.S. Hispanics.[17]

On August 8, 2012, reports surfaced that Answers.com had reached a preliminary agreement to acquire About.com for $270 million.[18] However, on August 26, Barry Diller's IAC announced that it would acquire About.com instead for $300 million in cash.[19] In a press release announcing the acquisition, IAC announced its intent to use the acquisition to help bolster and accompany its existing properties, such as its search engine Ask.com.[4]

On April 2, 2013, Neil Vogel took over as CEO of About.com. Prior to About.com, Neil Vogel helped to build Recognition Media's business from the ground up, launching, acquiring and growing media and awards properties such as the Webby Awards ("The Oscars of the Internet"), Internet Week NY and Europe, the Netted.net daily email and The Telly Awards.[20]

Today, About.com has nearly 1,000 freelance writers[21] who write on various topics, ranging from cooking to parenting to healthcare and travel.

References[edit]

  1. ^ "About.com LinkedIn profile". LinkedIn. Retrieved 7 February 2014. 
  2. ^ Miguel Helft (December 15, 2007). "Wikipedia Competitor Being Tested by Google". The New York Times. Archived from the original on 9 January 2008. Retrieved January 25, 2008. 
  3. ^ a b c Katharine Q. Seelye (February 18, 2005). "The Times Company Acquires About.com for $410 Million". The New York Times. 
  4. ^ a b "Barry Diller Shows Up Late, Gets What He Wants: IAC to Buy About.com From New York Times for $300 Million". All Things Digital. Retrieved 27 August 2012. 
  5. ^ David Kushner (April 21, 1997). "Drilling Begins at The Mining Company". Wired. 
  6. ^ Eric Fleming (May 17, 1999). "Miningco.com changes name to About.com". ZDnet. 
  7. ^ http://money.cnn.com/2000/10/30/deals/pri/
  8. ^ Katharine Q. Seelye (February 8, 2005). "About.com, Primedia's Web Venture, Is for Sale". The New York Times. 
  9. ^ "Times Co. Names About Inc. Chief". The New York Times. May 19, 2005. Retrieved September 26, 2010. 
  10. ^ The New York Times (May 7, 2007). "About.com Buys ConsumerSearch.com". The New York Times. 
  11. ^ "14 China Internet insights About.com learned launching Abang.com". Thomas Crampton. January 14, 2008. 
  12. ^ Peters, Jeremy W. (July 26, 2011). "About.com Gets New Chief Executive". The New York Times. Retrieved 7 February 2014. 
  13. ^ "The New York Times Company Names Cella M. Irvine Chief Executive Officer of the About Group" (Press release). The New York Times Company. June 11, 2008. Retrieved September 26, 2010. 
  14. ^ Richard Pérez-Peña (February 28, 2008). "Chief Is Leaving the About.com Unit of The Times". The New York Times. Retrieved September 26, 2010. 
  15. ^ about.com's Site Profile
  16. ^ advertiseonabout.com
  17. ^ "About.com To Expand Expert Premium Content". TheStreet.com. Retrieved November 21, 2013. 
  18. ^ Kafka, Peter. "The New York Times Is About to Say Goodbye to About.com". All Things Digital. Retrieved August 9, 2012. 
  19. ^ Gillette, Felix (October 22, 2013). "About.com Will Rise Again, This Time With Sponsors". Bloomberg Businessweek. Retrieved 7 February 2014. 
  20. ^ Peter Kafka (April 2, 2013). "Webbys Master Neil Vogel Is About.com's New CEO". All Things Digital. Retrieved February 2, 2014. 
  21. ^ "About.com - our writers". Retrieved 7 February 2014.