- Deal worth an initial $24million but could reach $54million (£44million) in total
The owner of LADbible is set to acquire a US-based Betches Media, expanding its footprint in women’s publications.
LBG Media will pay an initial $24million (£19.6million) for the brand, but the deal could be worth as much as $54million (£44million) in total.
The firm said the further $30million (£24.6million) will be paid in instalments, ‘subject to Betches achieving certain revenue and profitability targets to 2026’.
The group revealed that it will pay an initial $24million (£19.6million) for the brand but the deal could be worth as much as $54million (£44million) in total
Betches Media, is a digital-media company established in New York 2011, by three female co-founders, Aleen Dreksler, Jordana Abraham, and Samantha Sage.
It has a reach of 32 million followers including social media, as well as subscribers to both podcasts and newsletters.
All three women will remain on board post-acquisition, with Betches remaining as a stand-alone business that will work with LGB Media’s US team.
The firm’s website describes it as a ‘safe space to vent, scream, and deliver scathing hot takes on everything that p***** you off: an honest sounding board for advice on relatable, real-life s***’.
In the year to 31 December, Betches generated around $14.6million of revenue and delivered $3.9million in adjusted earnings before nasties.
Betches has an audience of more than 30 million
Solly Solomou, CEO at LBG, said: This deal brings together two highly successful, growth-focused businesses with complementary brands and skills, similar cultures and amazing teams, to create a world-class proposition.
‘The opportunity for the enlarged group is exciting, as we will be better positioned to capitalise on the significant US audience and advertising market. I look forward to welcoming the Betches team to LBG Media.’
Having started life as a Facebook page published by university students, LADbible quickly amassed popularity in the UK.
LBG Media, which listed on London’s AIM market in December 2021, now has a portfolio of 12 brands such as UNIlad and SPORTbible.
It claims to now have an audience of more than one billion worldwide, 39 per cent of which are female.
The group reported £62.8million in revenues for the first half of the year in September, with a profit before take of £7.3million.
Aleen Dreksler, CEO at Betches, said: ‘Betches has been on the cutting edge of women’s media and disrupting internet culture in the US for over a decade, and this acquisition will enable us to achieve new heights in our global footprint, new original programming, brand partners, and much more.
‘The synergy between LBG and Betches is unmatched, with our similar origin stories and passion for connecting with millennial and Gen Z audiences, making this a natural next step for our company.’
LBG Media shares were unchanged on Wednesday.
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