YP Corp. (OTCBB:YPNT), a provider Internet Yellow Pages announced it has acquired LiveDeal, Inc., a website for online local classifieds and Yellow Pages marketplaces. The deal is worth approximately $12M.
SearchEngineLand says "Classifieds is the third largest Internet ad category, capturing 18 percent of online ad spending according to the IAB, behind only display and search. Traditional U.S. directory and classifieds ad revenues were worth more than $30 billion in 2006."
Craigslist is the leader in online classified ads but there is room for lots of other players. It is a huge market. Local classifieds combined with a local directory of businesses, and a good search engine is The Next Big Thing in my opinion.
