Group 9 — the digital media firm shaped by the merger of Thrillist, NowThis, The Dodo and Seeker — simply introduced that it has reached an settlement to accumulate girls’s way of life writer PopSugar.
The monetary phrases of the deal weren’t disclosed, however The Wall Road Journal studies that it’s an all-stock transaction that values PopSugar at greater than $300 million.
PopSugar was based by husband-and-wife Brian and Lisa Sugar in 2006, and beforehand raised $41 million in funding from Sequoia Capital and IVP. Group 9, in the meantime, simply introduced a contemporary $50 million in funding from its backers Discovery and IVP, which it stated can be used to develop its commerce enterprise and for strategic acquisitions.
Brian and Lisa Sugar are each becoming a member of Group 9’s govt staff. Brian Sugar and Sequoia’s Michael Moritz are additionally becoming a member of Group 9’s board of administrators.
Earlier this yr, there have been studies that Group 9 was in talks to accumulate a unique girls’s way of life writer, Refinery29, which was in the end acquired by Vice Media as a substitute.
In a press release, Group 9 CEO Ben Lerer (pictured above) stated:
After we began Group 9 nearly three years in the past by combining Thrillist, NowThis, The Dodo, and Seeker, we foresaw the approaching consolidation of the trade and got down to create a mannequin for the next-generation media firm with important scale, deeply loyal and engaged audiences, multiplatform experience, and extremely diversified income. POPSUGAR massively expands our attain inside an vital demographic, bringing us a neighborhood that deeply loves the POPSUGAR model and an organization with the confirmed potential to diversify their income throughout premium promoting, affiliate, direct-to-consumer commerce, licensing, and experiential channels.
Within the acquisition announcement, Group 9 says the mixed organizations will attain an viewers of greater than 200 million social media followers and in addition factors to PopSugar’s commerce choices — together with its quarterly subscription Should Have Field and its Glow market for health content material and merchandise — as a superb match for its broader ambitions on this market.