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$6.1 Million

Alloy Acquires High School Social Networking Site Sconex for $6.1 Million

Authored by Mark Hefflinger on March 29, 2006 - 9:50am.
New York - Alloy, Inc., a new media marketing firm that operates youth-oriented sites including Alloy.com and Delias.com, announced on Tuesday that it has acquired Sconex, a social networking site for high school students, for $6.1 million in stock. New York-based Alloy said Sconex has seen a three-fold increase in visitors over the past six months, with visitors staying an average of about an hour. "Sconex, with its core emphasis on content for teens by teens, represents a terrific solution for advertisers endeavoring to reach young people in a secure online environment through social network marketing," said Alloy chairman and CEO Matt Diamond. "We were particularly impressed with its ability to attract trendsetters."
tags: Acquire | Alloy | High School Social Networking Site | Sconex | $6.1 Million |