Social Networking news and information

Blogsmith, the CMS that powers the Weblogs, Inc blogs, was one of the items NOT sold when AOL purchased the network last year.  However, Valleywag and PaidContent are now reporting that the sale of Blogsmith to AOL is now a done deal.

Valleywag is guesstimating the figure at $5M.  Investors in Blogsmith, including internet gazillionaires Mark Cuban and Jason Calacanis, are probably quite happy right about now.

Never one to gossip, Valleywag hints that Gould, one Blogsmith investor, got the royal shaft.

Gould was with Calacanis at the Silicon Alley Reporter, a 90s dot-com news outlet. He wanted Calacanis to sell the company; Calacanis waited too long and ended up having to sell for much less; Gould lost potential millions.

Then Gould bought into Weblogs, Inc., with most of his share in Blogsmith. So when WIN sold most every asset but Blogsmith, it looked like he'd get screwed again -- especially if WIN opened up the Blogsmith platform as Calacanis kept hinting. But with this sale, the man can finally pocket some money -- even if it's only a mil or two. And it looks like he did get screwed -- Gould's share hadn't fully vested, so he didn't make much at all from this sale. Maybe next time, dude.