Wednesday, August 12, 2015

Classmates Sold By United Online For $30M

Seattle-based Classmates, the online site for high school yearbooks and old high school classmate information, has been sold by parent United Online, in a deal worth $30M. United Online said it sold Classmates to Intelius Holdings--the Bellevue company recently acquired by H.I.G. Capital. The sale is a sad end to Classmates' time at United Online, as the company's original business--helping you reconnect with old high school friends--was made obsolete by social networking sites like Facebook and many others. United Online had originally paid $100M for Classmates back in 2004, and even attempted an IPO in 2007. United Online said the sale of the non-strategic unit will provide it more capital to grow its other businesses.