Google acquires web blog distributor

Google announced its acquisition of FeedBurner, a service focused on making money from the steady stream of information flowing from blogs, podcasts and traditional news sites, an Associated Press report said.

The Associated Press report said financial terms of the long-rumored deal were not disclosed, an indication that the acquisition price was not large enough to dent Google's wallet, which is bulging with more than $11 billion in cash.

Previous reports about Google's plans to buy FeedBurner pegged the sales price at about $100 million, the report said.

With just 30 employees, privately held FeedBurner had been subsisting on $10 million in venture capital raised since its inception four years ago, the report said.

Google will allow FeedBurner to remain based in its current Chicago headquarters, but has not made a decision on whether the brand will be retained, the report added.

Although FeedBurner is a small company, the buzz about its service has been steadily building as it helped distribute ads through the rapidly expanding universe of bloggers, podcasters and other sites that send out headlines and links through really simple syndication, or RSS, the Associated Press report said.

More than 431,000 web publishers currently belong to FeedBurner's network and the company says it delivers about 67 million feeds to its subscribers each day, the report further said.