- The deal had an initial value of $24 million but could reach a total of $54 million (£44 million)
LADbible’s owner plans to acquire US-based Betches Media, expanding its footprint in women’s publishing.
LBG Media will initially pay $24 million for the brand, but the deal could be worth as much as $54 million in total.
The company said the further $30 million (£24.6 million) will be paid in installments, ‘subject to the achievement of certain sales and profitability targets through 2026’.
The group revealed it will pay an initial $24 million (£19.6 million) for the brand, but the deal could be worth as much as $54 million (£44 million) in total.
Betches Media is a digital media company founded in New York in 2011 by three female co-founders, Aleen Dreksler, Jordana Abraham and Samantha Sage.
It has a reach of 32 million followers, including social media, and subscribers to both podcasts and newsletters.
All three women will remain on board post-acquisition, with Betches remaining a standalone company that will work alongside LGB Media’s US team.
The company’s website describes it as a ‘safe space to vent, scream and make scathing, steamy recordings of everything you love: an honest sounding board for advice on relatable, real-life s***’.
In the year to December 31, Betches generated approximately $14.6 million in revenue and delivered $3.9 million in adjusted revenue before nasties.
Betches has an audience of over 30 million
Solly Solomou, CEO of LBG: This deal brings together two highly successful, growth-oriented companies with complementary brands and skills, similar cultures and great teams, to create a world-class proposition.
“The opportunity for the expanded group is exciting as we will be better positioned to capitalize on the significant US audience and advertising market. I look forward to welcoming the Betches team to LBG Media.”
LADbible started life as a Facebook page published by university students and quickly gained popularity in Britain.
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 now claims to have an audience of more than a billion people worldwide, 39 percent of whom are women.
The group reported £62.8 million in revenue for the first half of the year in September, with a pre-recognition profit of £7.3 million.
Aleen Dreksler, CEO of Betches, said: “Betches has been at the forefront of women’s media and disrupting internet culture in the US for more than a decade, and this acquisition will allow us to reach new heights in our global footprint, new original programming, brand partners and much more.
“The synergy between LBG and Betches is unparalleled, with our similar origin stories and passion for connecting with millennials and Gen Z audiences making this a natural next step for our company.”
LBG Media Shares were unchanged on Wednesday.
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