Washington Post Acquires iCurrent

Congratulations to iCurrent and the Washington Post Company.

The Washington Post Company has acquired iCurrent, a company in the business of helping internet users assemble and organize online information according to their specific interests.

While financial terms of the deal were not disclosed, VentureBeat pegged the purchase price as likely north of $5 million.

Founded in 2006, South San Francisco-based iCurrent lets users create customized news feeds that draw from tens of thousands of newspapers, magazines and blogs.

The company has raised $3 million in financing, from Crosslink Capital.

The site is considered “an easy, albeit no-frills site to let users create automated channels of news depending on their interests.” For example, if a user likes wine, international politics, and baseball, they can select those topics, and iCurrent automatically pulls a feed of stories from credible sources to provide that news.

Although, I think it is a good move by the Post, but I think they somewhat over payed for it. They could have just bought the service from My6Sense or aNEWSme. Really paying $5 million for something you can get essentially almost for free is overkill.

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