Thursday, May 20, 2010

DailyBurn Sells Majority Stake To IAC

Boulder-based DailyBurn, which operates an online community and site focused on weight loss and fitness, has sold a majority stake in the firm to Mindspark/IAC. Financial terms of the sale were not disclosed. DailyBurn, which is a TechStars firm, had raised around $525,000 in funding from the Founders Fund. DailyBurn said the deal will provide the firm with resources it needs to increase its position as a leading online destination for fitness.