NewsCred Buys DayLife
NewsCred CEO Shafqat Islam won’t disclose a purchase price for the deal, but I’m assuming this is an “acqhire.” All eight of DayLife’s employees will join NewsCred, Islam says.
NewsCred, which raised a $4 million round last year, initially pitched itself as a “next-generation newswire” that provided stories for the likes of the Chicago Tribune. But its main business now is helping brands like Toyota, Pepsi and Johnson & Johnson assemble content for their own branded sites.
Last year, Islam told me he was generating revenue of $1 million a year; now he says he’s doing “many, many times more,” and has a staff of 65.
DayLife started out in New York in 2006, and in 2007 announced a funding round that included many of the Web’s boldfaced names, including the New York Times, Craig Newmark, John Borthwick and Michael Arrington.
Two years ago, it rolled out a photo distribution service and gathered an investment from Getty Images; it raised $15 million overall.