Wizzard Buys Libsyn
Oct 26th, 2006 | By James Lewin | Category: Audio Podcasting, General, Making Money with Podcasts, Podcast Hosting, Podcasting Networks, Podcasting ServicesWizzard Software announced today that it has agreed to acquire Libsyn, the world’s largest podcasting network. Wizzard is on a spending spree; recently it announced several other podcast-related acquisitions.
“Libsyn is on a mission to empower the content creator in this new age of independent media by creating unique opportunities to share advertising revenues with its podcasters,” said Chris Spencer, CEO of Wizzard Software.
‚ÄúBy joining forces, we can provide Libsyn with the operating capital it needs to continue its impressive growth, increase capacity and maintain its dominant status in the industry while at the same time expand our revenues by helping podcasters monetize their shows through unique advertising and sponsorship engagements,” he added.
According to the companies, the acquisition combines the world‚Äôs largest and fastest growing podcast network with Wizzard’s expertise in speech technology integration, creating a powerful new service for podcasters worldwide. The combined companies will focus on providing independent content creators with comprehensive search engine indexing, transcription and blogging integration and new tools so that they may better attract advertisers and sponsors allowing them to reach highly-targeted audiences with more relevant advertising and promotional opportunities.
Libsyn will continue to be headquartered in Pittsburgh, PA and all Libsyn management and employees will remain with the company. Both company’s board of directors have approved this transaction, which is subject to customary closing conditions, and is scheduled to close in the fourth quarter. Terms of the deal will be disclosed in SEC filings in the near future.
The Libsyn network broadcasts over 42 million podcast downloads per month to at least 13 million people worldwide. In 2006 alone, Libsyn has had over 360 million audio and video podcast downloads. “Just this month, our network has broadcast over 7 million hours of content and that does not even include traffic from our newly launched LibsynPro business service,‚Äù according to Dave Chekan, CEO and co-founder of Libsyn. ‚ÄúWe‚Äôve had several investment offers in the past and we chose Wizzard due to its expertise in speech technology, its passion for podcasting and its desire to make money for our independent content creators.‚Äù
[…] Libsyn, my choice for hosting podcast files, has just been purchased by Wizzard, as have Switchpod.¬† Both of whom provide podcast services. […]
[…] I’m not clear as to what or how this strategy influenced their decision to purchase Libsyn or Switchpod, which is another podcast host. Apparently wizzard software feels that: this new podcast service network will lead the industry by offering competitive advantages to both the podcast community, as well as becoming an attractive new medium for the advertisers and sponsors. […]
I would like notify everyone that Switchpod was NOT created by only 2 teenagers as the press articles have told you. I used to be part owner of Switchpod with Jake Fischer before Weina Scott was even a part of the company. Once Weina was put in, I was asked to continue my work with the site design, which I devoted much time to. After completing a new site design at the request of Jake, he and Wiena locked me out of the server and told me I was fired. All the presses and Wizzard themself were not informed of this entire truth. It’s a shame how somebody such as myself can put forth so much effort to create a successful business yet not even receive the recognition which he deserves.
I’m just another 17 year old kid trying to make something of himself. Have I not at the least entitled myself as a co-founder of Switchpod? I just wish Wizzard Software Co. and these news presses would hear what I have to say and release the REAL truth to the public. I have proof. I have the chat log of when I was “fired”. I have plenty of evidence. Somebody just needs to hear me out. I’ve sent emails to some presses as well as Wizzard, but have not received replies…
Jake Fischer and Weina Scott have blinded their users, the press, as well as Wizzard Software Co. from the truth of their company’s history. I have been kept a shadow, a “mistake”, a mere coincidence. But Switchpod would be nothing without me.
I think there is a problem with your story Nick. Owners can NOT be fired. So what really happened? Sounds to me like the real “truth” is that you “wanted” to be on board with switchpod, but you are a hired hand, hence the word “fired” applies to you. Maybe you thought different.
[…] Wizzard has, in the past year, acquired three podcast-hosting networks, Switchpod, Blast Podcast and Liberated Syndication (Libsyn). This new batch of financing follows a $1.75 million investment announced last October. That earlier financing round came hot on the heels of the announcement that the company was acquiring Libsyn. Chris Spencer, Wizzard CEO, issued a statement about this most recent investment: “This capital infusion allows us to continue funding the growth of our recently announc[ed] podcasting acquisitions and will allow us to accelerate expansion of our overall podcasting efforts, in which we see tremendous potential.” […]
Dave, I have copies of emails that confirm my position as a co-founder of Switchpod, as well as original PHP files, design files, and chat logs that date back BEFORE Switchpod’s public release. If you don’t believe me, that is your own opinion and you are entitled to it, as is anyone else. If anybody cares to get a better grasp on how Jake and Weina screwed me out of the company, please visit http://www.nickschwab.com/switchpod.php