Evolve Media Sells Leading Female Media Property SheKnows.com to Private Equity Firm
LOS ANGELES - (BUSINESS WIRE) - Evolve Media Corp., an integrated digital media company and vertical publisher, announced today that it has completed the sale of its women's media property, SheKnows.com, to a private equity firm.
Originally a five-person company when acquired by Evolve in 2006, Evolve spent the past 7 years layering its proprietary platform of publishing products and marketing tools onto SheKnows to help graduate the asset from a small web property of 600,000 unique visitors into a leading women's media business that attracts more than 41 million unique visitors each month (comScore, November 2012) and employs more than 100 people. Under Evolve's leadership, SheKnows earned some of the most prestigious awards for its premium content and original video production, including 2011 and 2012 Emmy Awards, back-to-back OMMA Awards for Website Excellence, as well as numerous Digiday Video and Publishing Awards.
"A transaction of this size further evidences the power of Evolve's publishing platform and business model," says Brian Fitzgerald, President and co-founder of Evolve. "We have demonstrated a proficiency in identifying under-leveraged web assets in the right space, which we are then able to acquire and successfully integrate onto our platform, growing significantly the audience, brand equity and revenue for each property."
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