MicroHoo Keeps Buying

Well, it doesn’t look like either Microsoft or Yahoo are slowing down their acquisition pace (except perhaps of each other). First came yesterday’s news that Microsoft has agreed to buy Danger, a provider of software and services for mobile handsets. Today it’s Yahoo’s turn, with an announcement that it has acquired video hosting company Maven Networks for $160 million.

Yahoo originally signed its letter of intent for Maven last November, and the news leaked out two weeks ago via blogs TechCrunch and NewTeeVee. Less than 24 hours later, however, Microsoft unveiled its hostile takeover attempt for Yahoo, and speculation ran rampant that the Maven deal was stalled. Apologies for lending my voice to that, as I’m now told that February 11 was always the close date, and it finished up as scheduled.

This sale is a big win for Maven’s venture capital backers – General Catalyst Partners, Accel Partners and Prism VentureWorks — which had invested around $24 million. The most recent round was a $12 million Series C round in mid-2006, at a pre-money valuation of just $30 million. It’s particularly good for GC, which originally invested in 2003 at a $7.5 million pre-money. And GC could really use it, because it’s also pumped a ton of money into Maven competitor Brightcove – including a recent round at around a $210 million post.