One jewel in Community
Connect's crown
Radio One has acquired Community Connect for $38 million in an effort to gain access to the latter's network of personal interest users.
Community Connect operates three large niche social networks: BlackPlanet.com, MiGente.com and AsianAve.com, which serve a combined user figure of over 23 million. Community Connect monetizes the sites with banner ads and stand-alone deals, like integrated sponsorships.
The acquisition will add significant targetable inventory to Radio One's cross-media ad sales platform.
