CrowdGather Buys For $1 Million

CrowdGather, which owns a network of community forums, is buying up, for $1 million in cash and stock (An SEC filing shows that FreeForums’ owner, Phil Santoro, is getting $600,000 in cash, as well as $400,000 in CrowdGather stock and additional compensation based on traffic). The three-year-old site lets anybody set up an online forum and claims to have the “largest community among free forum hosts”
CrowdGather is known for its acquisitive ways. It has bought up three sites since August, including MP3 player community site in November. This deal likely ranks among CrowdGather’s largest, since the company didn’t note the price tags of any of those other deals. Here’s the announcement.