Friends Reunited Sell Out for £120 million ($208 million)

The Net 2.0 boom continues apace. The Friends Reunited website, founded by husbanded and wife team, Steve and Julie Pankhurst in 2000, has been bought out by the British broadcaster ITV for £120 million. Analysts think ITV may have overpaid, but the site has been a phenomenal success and inspired imitators throughout the world.

That’s a lot of cash. Do these sites really make that back in revenue from advertising ?

Friends Reunited also charges a subscription fee for the full service. Even so, like Mike said, they probably did overpay for the site.