ABS CBN buys into Multiply

In a surprise move, TV giant ABS-CBN has announced yesterday that it has bought a minority stake into social networking site, Multiply.

The purchase was for 5% of Multiply which costs $5 million or close to Php250 million.

A year ago this month, ABS-CBN first went into an advertising deal with Multiply. It looks like that deal got a lot of traction and the media giant saw great potential.

ABS-CBN will continue to monetize the social networking site thru traditional CPM-based advertising and offering mobile service. They’ve even added a clause that will enable ABS-CBN to buy as much as 10% of Multiply. I think they’d be able to recover that investment in less than 5 years.

Abe Olandres

Abe is the founder and Editor-in-Chief of YugaTech with over 20 years of experience in the technology industry. He is one of the pioneers of blogging in the country and considered by many as the Father of Tech Blogging in the Philippines. He is also a technology consultant, a tech columnist with several national publications, resource speaker and mentor/advisor to several start-up companies.

https://www.yugatech.com

23 Comments

Rein Valdez says:

16 years ago

Wow that’s nice to hear. :)

Good Luck to ABS-CBN ang Multiply.
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sylv3rblade says:

16 years ago

So that’s why the first place we heard about the details of the Hero Con was multiply….. Meh
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phitski says:

16 years ago

if you notice some of abs-cbn program has a multiply site.
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edzhstar says:

16 years ago

wow..
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Snow says:

16 years ago

nice move from abs-cbn huh? social networking sites are great tool for advertisement nowadays so it’s a win-win situation for both parties.

the move will also enable multiply to market the website to the philippine audience. ^_^
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Gwapito.com says:

16 years ago

ABS-CBN and its sister companies likes to invest and spend millions, but don’t have the strategy to earn big.
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BM says:

16 years ago

I love ABS-CBN!
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WEBMASTER says:

16 years ago

I think for now ABS-CBN will benefit on the current trend on the web but I on the long run it will not be a good for the business, since the birth of DIY social networking is now slowly picking up.

Multiply as now is doing well as of the moment but just like the friendster that boom on the early 2000 and now slowly declining due the new social networking sites such as facebook.

http://www.wordtext.com.ph/uploads/wsifiles/Corel_Product_Catalogue_Ebook.pdf

http://corel-lifestyle.blogspot.com/
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butinalang says:

16 years ago

multiply? la nmann binatbat yan sa facebook or kahit sa friendster man lang..asa pa sila.
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Aspiring Entrepreneur says:

16 years ago

Oh, that’s why most ads that appear on Multiply are for ABS-CBN products, services or artists.
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