About seven years after acquiring SheKnows.com, a popular website targeting women, digital media publisher Evolve Media today announced that it has sold the business in an undisclosed deal.
SheKnows is said to attract more than 41mm unique visitors each month, with over 100 people working for the women’s media business today.
Oddly, Evolve Media didn’t name the buyer, a private equity firm, even though Adweek reported it to be Great Hill Partners.
You may know the private equity firm from its recent sale of portfolio company Ziff Davis and its acquisition of online obituary service Legacy.com earlier this year.
Evolve Media says it will use the proceeds of the transaction for new website acquisitions as well as continued investments to support its publishing platform.
Aaron Broder, CEO and co-founder of Evolve, says:
“With this proven record of acquiring and growing publishing assets, we see a real opportunity to aggressively seek out new M&A opportunities that can help us continue to grow our company.”
Aside from vertical online publications, Evolve Media also offers a content and audience marketing platform called Crowd Ignite, and Springboard Video, a platform that it claims powers online video for over 500 websites.
The SheKnows transaction marks the second sale of a publishing asset by Evolve Media, having previously sold Quizilla.com to Viacom in 2006.
Brian Fitzgerald, president and co-founder of Evolve Media, says:
“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.”
Apart from SheKnows, Evolve Media operates more than 50 Web properties organized under two vertical publishing units, CraveOnline Media for men (GameRevolution.com, Sherdog.com, ComingSoon.net and others), and totallyher for women (Momtastic.com, theFashionSpot.com and other properties).