The acquisition will bring PopSugar into
the Group Nine portfolio, which includes Thrillist, The Dodo, NowThis, Seeker and comedy studio JASH.
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Terms of the deal weren’t disclosed. PopSugar’s Brian Sugar and Lisa Sugar will join the executive team of Group Nine. Also as part of the deal, Brian Sugar and PopSugar strategic investor Michael Moritz will join Group Nine’s board of directors.
“PopSugar hugely expands our reach within an important demographic, bringing us a community that deeply loves the PopSugar brand and a company with the proven ability to diversify their revenue across premium advertising, affiliate, direct-to-consumer commerce, licensing, and experiential channels,” Group Nine CEO Ben Lerer said in a statement.
The announcement comes less than a week after Vice Media said it was buying Refinery29, which focuses on an audience of millennial women.
Last month, Group Nine announced that it raised $50 million in new funding from lead investor Discovery and strategic investor Axel Springer SE.
More to come.
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