Press Release: Aufeminin to Acquire Livingly Media, Inc
Livingly, based in San Carlos, California (at the heart of Silicon Valley), is one of the top 25 digital publishers of lifestyle content in the United States and publishes popular women's titles Zimbio.com (entertainment news), StyleBistro.com (fashion, beauty, and style), and Lonny.com (home décor and design).
aufeminin is acquiring the company for an initial purchase price of $25 million, and an EBITDA-driven earn-out, lasting until 2019, that could increase total consideration to approximately $50 million.
The acquisition will be financed using the group's cash flow.
Livingly's financial statements will be consolidated as of March 1st, 2015.
Tony Mamone, CEO of Livingly Media, said: "We're thrilled to join the aufeminin group, whose deep digital media expertise and support will accelerate our strategy, which is focused on captivating audiences on mobile, desktop, and social platforms with unique content experiences, and selling native sponsorships and programmatic advertising."
An American success story
Livingly Media was started in 2006 by Stanford business school graduates Tony Mamone and Danny Khatib, respectively former Senior VP of Sales at NASDAQ-listed LookSmart and Digital Media Manager at AOL Time Warner. It has rapidly acquired leadership positions in several categories of the US women's lifestyle market with one of the best records in building audiences from social media.
Employing 65 people, including half in New York City, Livingly Media generated organic growth of 40% in 2014, with revenue of approximately $15 million and an audience of over 28 million unique visitors(*).
A focus on innovation and technology development sustains the company's rapid growth. Its proprietary publishing platform helps the team create a large volume of highly shareable content on all social media networks.
The virality and quality of its content has fueled a steady increase in audience, with high time spent and a user engagement rate three times greater than its competitors.