IYP publisher Idearc has invested in AmericanTowns, a collection of local city guides that aggregates content from various sources about local businesses, events, news and other resources. Idearc has also purchased the LocalSearch.com domain from AmericanTowns. Combined, the deal is worth $3.3 million.
Idearc will work with AmericanTowns to develop hyper-local content for its own local search offerings, and will take an equity interest and board seat at the start-up.
AmericanTowns.com will use proceeds from this transaction to continue growing its database, to develop new tools for community groups, and to add more user-generated content tools for its local sites.
This Year's Premier Digital Marketing Event is #CZLSF
ClickZ Live San Francisco (Aug 11-14) will bring together the industry's leading online marketing practitioners to deliver 4 days of educational sessions and training workshops. From Data-Driven Marketing to Social, Mobile, Display, Search and Email, the comprehensive agenda will help you maximize your marketing efforts and ROI. Register today!