The deal means the merger of female-focused PopSugar with the company that owns the Thrillist , The Dodo , Seeker and NowThis brands. Terms of the transaction were not disclosed, but , which on Monday first reported on the deal, cited anonymous sources valuing it at $300 million.
Per Group Nine, the combined company will reach 70 percent of people aged 18 to 34 and will have more than 200 million followers across social platforms. PopSugar, meanwhile, launched in 2006 and built up a lifestyle brand for women. It has raised $41 million from Sequoia Capital and IVP. As part of the deal, co-founderswill join the Group Nine executive team. Brian Sugar and investor Michael Moritz will also join the Group Nine board of directors.
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