Demand Media (DMD) Acquires Digital Marketplace Provider Society6
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Demand Media (NYSE: DMD) today announced that it has acquired Society6, a leading digital marketplace powered by artists. The e-commerce marketplace enables artists to seamlessly upload and merchandise unique artwork and sell a variety of products, such as phone cases, art prints, home décor, and other merchandise. Society6 further expands Demand Media’s content & media platform through Society6’s fast growing e-commerce marketplace that includes more than 100 million product SKUs and a community of over 300,000 members.
Total consideration is approximately $94 million, consisting of $75 million in cash and approximately $19 million in common stock at close.
“Society6 augments and diversifies our content & media platform by adding an innovative e-commerce marketplace with multiple traffic sources and a large community of talented artists. This acquisition will significantly accelerate the scale of our e-commerce business as we continue to expand into new revenue models,” said Richard Rosenblatt, Chairman and CEO, Demand Media.
Rosenblatt added, “We intend to expand Society6 by offering their unique marketplace to our existing media audience of over 100 million unique global visitors per month. In addition, we plan to leverage our expertise in managing content creation platforms, our experience in building creator communities, and our significant engineering and product resources to further drive Society6’s scale and growth.”
“Our team is excited to join Demand Media because they understand the importance of content creators and will help expand our community of artists and our audience,” said Justin Cooper, co-Founder, Society6. “We are looking forward to benefitting from Demand Media’s expertise to accelerate the success of our marketplace.”
Total consideration is approximately $94 million, consisting of $75 million in cash and approximately $19 million in common stock at close.
“Society6 augments and diversifies our content & media platform by adding an innovative e-commerce marketplace with multiple traffic sources and a large community of talented artists. This acquisition will significantly accelerate the scale of our e-commerce business as we continue to expand into new revenue models,” said Richard Rosenblatt, Chairman and CEO, Demand Media.
Rosenblatt added, “We intend to expand Society6 by offering their unique marketplace to our existing media audience of over 100 million unique global visitors per month. In addition, we plan to leverage our expertise in managing content creation platforms, our experience in building creator communities, and our significant engineering and product resources to further drive Society6’s scale and growth.”
“Our team is excited to join Demand Media because they understand the importance of content creators and will help expand our community of artists and our audience,” said Justin Cooper, co-Founder, Society6. “We are looking forward to benefitting from Demand Media’s expertise to accelerate the success of our marketplace.”
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