Group Nine — 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 life-style writer PopSugar.
The monetary phrases of the deal weren’t disclosed, however The Wall Street Journal reports 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 announced a fresh $50 million in funding from its backers Discovery and IVP, which it mentioned 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 government workforce. 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 experiences that Group 9 was in talks to acquire a different women’s lifestyle publisher, Refinery29, which was finally acquired by Vice Media as an alternative.
In an announcement, Group 9 CEO Ben Lerer (pictured above) mentioned:
Once we began Group 9 virtually three years in the past by combining Thrillist, NowThis, The Dodo, and Seeker, we foresaw the upcoming consolidation of the trade and got down to create a mannequin for the next-generation media firm with vital scale, deeply loyal and engaged audiences, multiplatform experience, and extremely diversified income. POPSUGAR vastly expands our attain inside an essential demographic, bringing us a group that deeply loves the POPSUGAR model and an organization with the confirmed means 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 likewise 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 match for its broader ambitions on this market.