TechWag

Image via CrunchBase, source unknownSocial Median pushed out a note at 12:01 AM to announce that they have been picked up by another network Xing out of Germany. Usually you get some kind of rumor mill information on this, but there was nothing that indicated that this deal was coming. I did not think that I would see a deal like this at the end of this hard year, but then Social Median is an awesome service, and can be a lot of fun to play around with. Especially when you go clipping your friends news stories as a way to get them traffic. What I hope is that Social Median continues on and does not languish like so many other startups that get bought out by larger companies. In the mean time, all the VC’s and other investors are going to be celebrating one of the last deals in 2008.

Unfortunately no dollar amounts are in the news release, it would be interesting to see what the final dollar amount is, mostly because of the down economy, and watching valuations go through the floor, like facebook’s valuation going from 15 billion to 2 billion dollars.

Why do we think that socialmedian is a perfect fit for XING? Here´s why: In business success depends on access to the right information at the right time. Both the speed of information and the sheer volume of data have increased rapidly due to the rise of the internet. Traditional media companies, social media such as blogs, tweets, videos and other user-generated websites now provide daily news, leading to a veritable flood of information. The consequence: Time-strapped professionals are forced to parse through numerous news sources for relevant information and sort, organize, and share stories on their own. Xing Blog

Otherwise, this is a great way to shut down the year, and an excellent opportunity to see Social Median have a chance at survival because it is a fun system to use. Good for Jason and good for the Social Median team, this deal should help a number of other companies know that the whole technology market has not frozen over in terms of M&A. This could not have come at a better time.

Note for Jason Goldberg, Hamburg is cold in winter, try the gluvine, it is great, and you have to do October fest if you have not done already.

Tags: social median, sold, xing, hamburg, awesome