Craftsy Sold to Comcast NBCUniversal

Craftsy, the online video tutorial and supplies marketplace launched in 2011, has just announced its sale to media giant Comcast NBCUniversal.

Craftsy (PRNewsFoto/Craftsy)

Like many similar buyouts the official line is that the company will continue to operate mostly independently. The purchase appears to be part of Comcast NBCUniversal’s (wow that’s a mouthful of a name, I’m just calling them Comcast from here on out) attempt to compete with Youtube and Netflix in the “edutainment” space.

I’ll be interested to see how this plays out over the next four years. Craftsy, which has raised over 100 million in venture capital, has a staff of 190 employees. Generally tech company buyouts come with massive employee turnover, and it will be especially interesting to see if Craftsy CEO John Levisay makes it through all four years of his “golden handcuffs.”

Although financial details of the transaction are not immediately available, more information about the two companies can be found on the Denver Post.

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