Hi-Media Group today acquired of Fotolog.com. Hi-Media is a diversified European pure play Internet company that includes advertising, and micro-payment services.
Fotolog was launched in May 2002, added 3 million members in August 2007, and passed 13 million members. It receives over 16 million unique visitors per month, 3.9 billion page views and has 350 million pictures posted. It is ranked number 18 by Alexa.
It has been reported that the price tag was roughly $90 million in cash and stock.