Pageflakes, an Ajax home page service that originally launched in Germany in late 2005, has been acquired by Los Angeles based Live Universe, sources tell us. The deal has not yet been announced, and both Live Universe and Pageflakes refuse to comment.
Pageflakes raised a high profile round of funding in May 2006 from Benchmark Europe (renamed Balderton Capital). Balderton has continued to bridge the company with additional funds, and about $4 million has been invested to date.
Live Universe, which was founded by MySpace founder Brad Greenspan, has made a number of acquisitions to spur growth. Most recently, they acquired video site Revver, in February 2008. The also run the video site LiveVideo.com.
The deal was competitive, according to one source, who says that Colorado-based NewsGator was also bidding. But it’s likely that the acquisition price was not huge – Pageflakes is in a highly competitive market dominated by Yahoo and Google. Even so, reports that the company may be going to the deadpool seem to be inaccurate.
Pageflakes CEO Dan Cohen, who ran the My Yahoo product prior to joining Pageflakes, will report to Greenspan, and the company will remain at their current offices in Germany and San Francisco.