Paid Content is breaking the story du jour. Jason Calacanis is selling his Weblogs, Inc. to AOL for up to $35 million US dollars.
For Calacanis, this is his second company being sold in a space of about two years…his original company Rising Tide Studios was first sold to Wicks Business Information, which in itself was bought out by Dow Jones.
The company’s blogs have had an exponential trajectory, with sites like Engadget, Autoblog, BloggingBaby, Adjab and others. In total, the company has about 130 bloggers, with about 15 full time employees, from what I know.
Weblogs Inc. revenues are running at $1 million-plus annually from Google AdSense alone, according to numbers jubilantly released by Calacanis on his own blog; during a panel last week he said the company was bringing in $2 million a year. With that in mind, either of those numbers would be a generous multiple.