ScribbleLive Acquires Competitor CoveritLive from Demand Media
Demand Media announced today the sale of its real-time engagement solution business, CoveritLive, to Toronto-based ScribbleLive.
Terms of the acquisition have not been released yet.
Both CoveritLive and ScribbleLive were born in Toronto and have battled for supremacy in the live blogging category. In 2011 CoveritLive appeared to be the victor when they were acquired by Demand Media for $5 million. Today’s news reverses that decision.
“2014 has been a great year for Scribble and our company’s growth. We’ve expanded our international presence, released a new enterprise product, and powered more than 4 billion engagement minutes in the past 30 days alone,” said Vincent Mifsud, CEO at ScribbleLive, in a statement. “CoveritLive will help us accelerate our growth rate even further and exponentially increase our influence in the market.”
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With the addition of CoveritLive’s portfolio of clients, ScribbleLive will power engagement for an impressive number of companies, including over 1,500 total customers, the NFL, NBA, NHL, MLB and all three of the U.S.’ top news networks.