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 The New York Times Company announced today that it's popular information and reference web site About.com, has purchased ConsumerSearch.com, an on-line publisher of consumer product reviews, for the sum of $33 million. ConsumerSearch.com utilizes freelance writers who research product reviews both web-based and in traditional print sources, for thousands of consumer products in over 600 categories. According to the press release from The New York Times Company, About.com is one of the top 15 web sites in the United States, receiving over 33 million unique visitors in March, 2007 - a gain of 14 percent over company figures from one year ago. The chart below shows this quick growth. About.com's web site notes that Nielsen NetRatings list the company as a "top 10 web property used by one out of every five people on the Internet." About.com President and Chief Executive Scott Meyer reflected positively on the nature of what ConsumerSearch.com offers, noting, "Product reviews are highly prized by users." The New York Times Company expects today's purchase to add to their earnings beginning in 2008, and to not affect their 2007 capital expenditures. Small Office, Big Numbers Although ComsumerSearch.com is reported to have only six employees, including company founder Derek Drew, it is reported to have garnered over three million unique monthly visitors and over 25 million page views during the first quarter of 2007. That such a company is being sold for $33 million should prove to be a promising sign to many. Mr. Drew and his five employees are expected to join the About.com staff working under Mr. Meyer.  Mr. Meyer spoke positively about the purchase in stating, "This acquisition will greatly expand About.com's reach in numerous categories, substantially enhance our library of content and increase our advertising inventory, driving additional revenue growth." Meyer described his company's newest acquisition as, "...the premier resource for consumer product meta-reviews that enable readers to make intelligent purchasing decisions quickly and accurately." As one of the web's top producers of original content, About.com has over 1.5 million separate items of content, according to the WebKnowhow press release. Continuing Expansion Over Past Eight Months Today's purchase continues recent expansion by About.com and shows the company's desire to expand. In the past eight months the company has acquired UCompareHealthCare.com and Calorie-Count.com. UCompareHealthCare.com provides information on the health care industry, while Calorie-Count.com offers personal health and nutrition ratings. About.com was founded in 1996 as The Mining Company by Scott Kurnit, renamed About.com in 1999, and in 2005 is was acquired by The New York Times Company for $410 million. The New York Times Company is the parent company of The New York Times and several other newspapers around the globe, a radio station, 35 web sites, and nine television stations. Additional Resources about Review Site ConsumerSearch.com Acquired for $33 million by New York Times' About.com:
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10:27 am on May 7, 2007 (utc 0)