Minute Media Announces the Strategic Acquisition of Mental Floss
NEW YORK & LONDON--(BUSINESS WIRE)--Sep 20, 2018--Today, Minute Media, a leading global publishing and technology platform, announced the acquisition of Mental Floss, an award-winning media brand living at the intersection of knowledge and entertainment. This acquisition brings yet another great direct-to-consumer brand into the Minute Media portfolio and strategically aligns with Minute Media’s goal of growing its millennial-focused user base.
As a part of the acquisition, Minute Media will be acquiring a talented group of Mental Floss employees who have established a clear leadership position, over years of hard work, in a distinct content category. Additionally, Minute Media will take on management of Mental Floss’ digital assets including website, social channels, programmatic and direct advertising customers. All digital assets will continue to operate under the Mental Floss brand.
“The acquisition is a natural evolution of Minute Media’s platform strategy,” said Asaf Peled, Founder and CEO of Minute Media. “Our technology first approach to publishing gives us the flexibility to pivot quickly and grow loyal and engaged communities at incredible scale. Having already proven the value of our unique model across sports publishing, we’re thrilled to have Mental Floss serve as our first of several strategic acquisitions and believe that the brand complements our current portfolio of digital assets.”
Earlier this year, Minute Media added capital, bringing its total fundraising to $77M to date. As part of this latest round of fundraising efforts, Minute Media’s goals were to efficiently scale into new markets and content verticals. The Mental Floss acquisition is one major and key step in this evolving and growing process.
Minute Media is acquiring Mental Floss from the Felix Dennis estate.
“The Executors of Felix Dennis’ estate are delighted to announce the sale of Mental Floss to Minute Media. We see Minute Media as a fantastic home for the Mental Floss business. Their strategic plan, reputation, technical platform and media proposition are extremely strong, and we are confident that they will further the growth and reputation of Mental Floss,” said Ian Leggett on behalf of the Executors of the Felix Dennis estate. “The proceeds of this sale go to the Heart of England Forest, a charity established by Felix during his lifetime.”
For more information on Minute Media, visit MinuteMedia.com.
About Minute Media
Minute Media is a leading media and technology company, powered by authentic and socially driven content created by the fans, for the fans. Minute Media’s products enable fans to create, publish, share, and distribute sports content around the world. This unique approach to covering sports and culture brings a fresh and authentic voice to the world of media. To date, Minute Media’s family of destinations included 90min, 12up, and DBLTAP. The company is backed by leading venture capital firms and strategic investors including Battery Ventures, Dawn Capital, Gemini Ventures, North Base Media, ProSieben, Qumra Capital, Goldman Sachs, La Maison, Vintage Investments and Remagine Ventures.
About Mental Floss
Mental Floss is an award-winning media brand at the intersection of knowledge and entertainment. Founded in the US back in 2001, Mental Floss has established a ‘Destination for Curious People,’ delivering sophisticated and sharable content on everything from science, history, pop-culture and the arts. The brand won three consecutive Webby Awards and has been recognized as #1 on Mashable’s list of “Twitter Feeds That Will Make You Smarter.” For more information visit www.mentalfloss.com.
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SOURCE: Minute Media
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PUB: 09/20/2018 09:00 AM/DISC: 09/20/2018 09:01 AM