YP buys LiveDeal, Zecco goes wild, other news

LiveDeal is acquired by YP Corp., an online classified ads service I reviewed in October, has been acquired by YP Corp., a publicly traded company operating the Yellow Pages site From the press release published yesterday at BusinessWire:

Under the terms of the acquisition, LiveDeal shareholders received 15,968,514 shares of YP common stock. LiveDeal will remain an independent entity and a wholly owned subsidiary of YP and the two companies will leverage one another’s content, sales teams and technology to strengthen their individual product offerings

The deal is valued at around $12 million and is just a drop in the series of acquisitions flooding the news these days, a clear sign of a hot IT market. Other noticeable acquisitions:

and in the rumors:

Zecco removes minimum balance requirement

The secret promotion at Zecco is not a secret any longer. I just received an email that they have removed the $2500 minimum balance requirement making the deal even sweeter.

Zecco is a financial portal offering $0 commission stock trading. If you are thinking of opening an account at Zecco, as I am, check out this and this review at Sun’s Financial Diary to get an idea of what to expect.

After reading the reviews myself, I stand by my previous conclusion that $0 commission trades are a good deal but Zecco has a long way to go improving their service and customer support. Is the trouble worth savings? You will have to choose this for yourself.

Discovery Channel to close stores

After a series of recent revenue losses the network decided to close its mall-based and stand-alone Discovery Channel Stores to focus on its e-commerce platform and partnerships with large retailers.

Discovery Communications announced on Thursday that it will close its 103 stand-alone and mall-based retail stores, cutting 1,000 jobs, or 25 percent of the company’s global workforce, in the process

The overhaul is expected to be complete by the end of the third quarter. Does store closings mean we will see close-out sales is yet to be seen and I sure will be keeping an eye on it.

Source: Discovery closing stores, slashing 1,000 jobs at Reuters (via WiseBread)

See also:

1 Response to “YP buys LiveDeal, Zecco goes wild, other news”

  1. 1 Mike G. Jun 8th, 2007 at 11:29 pm

    Has anyone tried Zecco? Sounds good like a good deal.

    I’ve been doing the Vanguard S&P 500 index fund thing myself, and so far am quite pleased.

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