IAC/InterActiveCorp, parent to Ask.com and Citysearch, announced plans to acquire reviews-based local search provider Insider Pages. IAC is not sharing the details, but TechCrunch puts the purchase price at $13 million, which should cover the $10 million VCs have invested in the company.
Insider Pages has been struggling to compete in the competitive local search space, and a sale had been rumored for some time, amidst layoffs and dwindling traffic.
Insider Pages has about 600,000 user reviews, which will be integrated into the Citysearch’s offering, as well as 2.5 million monthly unique readers, based on Comscore and internal tracking numbers, according to VentureBeat.
IAC will retain the Insider Pages brand identity and positioning, using its reviews to strengthen and complement Citysearch. Insider Pages will move its current operations and team to Citysearch’s San Francisco office.
More details in this ClickZ News story.