Pop Sugar, a female-skewing digital brand that started off as a humble blog in 2006, has been acquired by Group Nine Media in the latest major M&A transaction to rearrange the digital media sec…
The brand joins a stable at Group Nine that already includes Thrillist, NowThis, The Dodo and Seeker.Group Nine Media was created in 2016 afterCommunications put $100 million into the venture. Just last month, Group Nine raised $50 million in additional funding, led by Discovery, with German publisher Axel Springer also investing.
The transaction follows several high-profile digital deals, including Vox’s acquisition of New York magazine, and Vice Media’s takeover of Refinery29. The digital space, which years ago presented a bold new frontier for startups to enter and disrupt traditional media outlets, is experiencing a wave of consolidation. The dominance of Facebook and Google in the
arena has squeezed a lot of newer companies, many of which spent freely to scale their businesses, only to see ad revenue flatten.
Cooley LLP advised Group Nine Media and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP and Code Advisors advised Pop Sugar.
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