WebMediaBrands (WEBM)

[goosemeister]

Inside Networks Sells for $14M to WebMediaBrands

WebMediaBrands has bought Inside Network, the research provider and blog network for social and mobile app developers, for $14 million.

Inside Network Founder Justin Smith, who started the company in 2006 (and is pictured at right), and Editor Eric Eldon called just now, saying the deal, which offered $7.5 million in cash and the rest in WebMediaBrands stock, “literally just closed in past hour.”

Palo Alto, Calif.-based Inside Network’s properties include the blogs Inside Facebook, Inside Social Games and Inside Mobile Apps; the Inside Social Apps conference; and the research products AppData, Inside Virtual Goods, and the Facebook Marketing Bible.

Inside Network’s full team, which has six full-time employees, will be joining WebMediaBrands. WebMediaBrands, formerly known as Jupitermedia, also owns Mediabistro.

http://networkeffect.allthingsd.com/20110511/inside-networks-sells-for-14m-to-webmediabrands/?reflink=ATD_yahoo_ticker