Group Nine has acquired PopSugar.
The media company, which already operates sites such as Thrillist and NowThis, acquired PopSugar, a web site that offers fashion and celebrity coverage aimed at women, but also shopping and extensive branding and licensing efforts of its own and for advertising partners. A spokeswoman for Group Nine declined to comment on the value of the deal, but it was an all-stock transaction. Reporting in The Wall Street Journal said PopSugar was valued at $300 million.
Ben Lerer, Group Nine’s chief executive officer, said the acquisition of PopSugar “hugely expands our reach within an important demographic, bringing us a community that deeply loves the brand and a company with the proven ability to diversify their revenue across premium advertising, affiliate, direct-to-consumer commerce, licensing and experiential channels.”
As for PopSugar’s founders, Lisa and Brian Sugar, they will take on new executive roles with Group Nine, though the spokeswoman said their titles won’t be revealed until the transaction closes in a little over a month. Brian Sugar will take a place on the company’s board.
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