Yahoo acquires Wretch for $21m

wretch Yahoo acquires Wretch for $21mYahoo has won regulatory approval to acquire Taiwanese based social networking site Wretch.cc for $21.2m.

The relatively unknown Wretch, which we covered back in February, is a Xanga style blogging and social networking destination extremely popular in Chinese language markets, with an Alexa ranking in 36, making the Yahoo acquisition a complete and utter bargain.

According to reports, the purchase had been held up by the Taiwanese Fair Trade Commission, who investigated complaints that the acquisition would give Yahoo Taiwan unfair control over Internet advertising rates in Taiwan, and excessive market share as well.

Wretch is said to have 2.8 million members.

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  1. Sounds like a good deal, buying several smaller networks in lots of different territories seems a lot more viable than one huge purchase

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  1. [...] 2006, blogs, local, up to $100MAcquisition date: 12/2006 Acquisition info: link Price: $21 Million Profile: Wretch.cc. Some sort of social networking/ blogging outfit that is [...]

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