Peter Kafka

Recent Posts by Peter Kafka

NewsCred Buys DayLife

Content distributor NewsCred has acquired DayLife, a news aggregator that attracted a high-profile list of investors but never got much traction.

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.

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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik