Specifically, Scott wants you to buy France’s Hi-Media Group. Sound familiar? It should — it’s the company that bought Fotolog, the photo-sharing network he co-founded, for about $90 million last year.
Fotolog is “the only publicly-traded social network [is that true?],” he writes on his blog. “Buy this undervalued stock! (duh disclosure: hell yeah i’ve got stock; i’ve got nothing to do with fotolog anymore; i can pimp it).”
For what it’s worth, the stock could use Scott’s help: It’s trading around $5.18, down 35% from its 52-week high, reached last spring.
Meanwhile, Fotolog continues its growth: In a release yesterday, the company said it added 5 million members in the six months after its acquisition was announced, passing the 15 million member milestone. In December, it got 16.6 million uniques (Comscore) and in January, served up 4.2 billion page views (Google Analytics). Members upload 10 photos every second.
Hi-Media’s stock jumped 30 cents, or 6% yesterday. Was it the press release touting the site’s growth… or Scott’s pitch?
Fotolog Sells To French Hi-Media Group For $90 Million
Fotolog Still Growing: Will That Satisfy New Owners?
Hi-Media Investors: We’re OK With Fotolog Deal
HuffPo Founder Ken Lerer Joins Borthwick’s BetaWorks
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