Forbes Media Buys ClipMarks

Forbes Media has acquired Clipmarks, a New York-based developer of an online service that lets users clip and share text and other content from Web pages. No financial terms were disclosed. Forbes Media was formed last summer by Forbes and Elevation Partners.

PRESS RELEASE
Forbes Media, the corporate parent of Forbes.com (www.forbes.com), announced today that it had acquired Clipmarks, a unique Web-clipping service that enables people to clip and share text and other content from Web pages. Terms of the acquisition were not disclosed.

Clipmarks' free browser add-on application lets people clip text, images and videos from Web pages, and then save, blog, e-mail and print what they clip. Their site is home to a vibrant community of clippers who share and discuss their clips, among other uses.

Clipmarks joins the growing family of Forbes Web sites, which also includes Forbes.com, ForbesTraveler.com, ForbesAutos.com, Investopedia.com and RealClearPolitics.com.

In making the announcement, Forbes President and CEO Steve Forbes stated, “We're very pleased to welcome Clipmarks to Forbes Media as we continue our pursuit of enhancing and growing the company. Web users will find Clipmarks' technology extremely useful.”

“We're very pleased to welcome Clipmarks to the Forbes family of sites,” said Jim Spanfeller, President & CEO of Forbes.com. “The technology offers our audience of affluent business decision-makers interesting additional content from around the Web, conveniently located in one place.”

Eric Goldstein, co-founder of Clipmarks (www.clipmarks.com), will remain CEO of the Company. “In order for us to fulfill our mission of enabling people to capture and share information on the Web, it became clear that we needed additional resources and a great partner,” said Eric Goldstein. “We are excited to have found such a partner in Forbes and are more committed than ever to create better ways for people to connect with information.”

Forbes.com editors use Clipmarks technology across the Forbes.com site, clipping and posting content from other Web sites that they think site users might be interested in reading.

Forbes Media:

Forbes Media, LLC was formed in August 2006 as a result of an investment in Forbes by Elevation Partners, in which the private equity firm became a minority shareholder in a newly formed company, encompassing Forbes magazine, Forbes.com and other media properties. Forbes.com reaches in excess of 20 million people monthly. Forbes is the publisher of Forbes, the nation's leading business magazine, and its international edition, Forbes Asia, which together reach a worldwide audience of nearly five million readers. Forbes.com is the company's Internet business, which is the homepage for the world's business leaders and the #1 business site on the Web. The company also publishes ForbesLife, and ForbesLife Executive Woman. Forbes also publishes local language editions, including Forbes Nihonban, Forbes Korea, Forbes China, Forbes Russia, Forbes Arabia, Forbes Israel, Forbes Poland and Forbes Turkey.

Forbes.com:

Forbes.com (www.forbes.com), home page for the world's business leaders and the No. 1 business news source in the world, is among the most trusted resources for senior business executives, providing them the real-time reporting, uncompromising commentary, concise analysis, relevant tools and community they need to succeed at work, profit from investing and have fun with the rewards of winning. Throughout the business day Forbes.com publishes more than 3,000 articles, delivering the best of Forbes journalism and that of its selected partners with all the immediacy, depth and interactivity that the Web allows.

Affiliated sites include: ForbesTraveler.com, ForbesAutos.com, Investopedia.com and RealClearPolitics.com.

Clipmarks:

Clipmarks, headquartered in New York City, is changing the way people capture and share information on the Web. By creating tools that overcome the traditional limitations of copy/paste and bookmarking entire pages, Clipmarks is determined to make discovering and sharing web content more fun and efficient. Clipmarks is a recommended Firefox add-on and was recently named a Top 10 Future Classic Web Site by PC Magazine.