Batanga acquires digital publisher Crovat (UPDATED)
Update includes comments from Rafael Urbina, CEO and Chairman of Batanga.
Batanga Media announced the acquisition of Crovat, a Montevideo Uruguay, based company that since 2007 has created and developed over 300 consumer websites. Dedicated to providing users with lifestyle and entertainment content, Crovat publishes various sites, blogs and communities with over 12 million unique visits per month. The financials of the transaction were not disclosed and no advisers were involved in the acquisition.
Focused mainly on women's lifestyle through sites including imujer.com, entrepadres.com, elgranchef.com. Crovat produces and publishes over 2,000 stories monthly including text, video and photos. Crovat's portfolio of sites has more lifestyle oriented properties including elgranchef.com, muycine.com and lasmanualidades.com. It also produces four sites in Portuguese.
"This latest acquisition solidifies Batanga Media as a digital leader in the women's lifestyle category, both in the US Hispanic and Latin American Markets," said Rafael Urbina, Chairman and CEO, Batanga Media. "Our dedication to delivering relevant and entertaining content for Hispanic communities around the world has never been stronger."
"Crovat was founded by a team of individuals dedicated to content creation and the development of interactive platforms," said Santiago Pehar, founder of Crovat. "We are excited to join the Batanga Media team and are eager to develop additional content utilizing the expertise of the leading digital media company in the Americas."
Crovat founder Santiago Pehar joins Batanga Media as Vice President of Product, overseeing all of the company's lifestyle properties.
With the acquisition of Ad-Funky and I-Network last year Batanga had been positioning itself more as an online ad network than a pure content play. Through the acquisition of Crovat, the company acquires a significant amount of content assets. The margin over ad sales in owned media are much higher compared to ad sales in third party media properties. Batanga now adds Crovat content assets to its own digital content properties which include Batanga.com, LolaSabe.com, Hoyenfutbol.com, and Metroblog.com. "Batanga Media has always strived to create digital content for Hispanic audiences in music and lifestyle categories through destination sites like Batanga.com and LolaSabe.com. This latest acquisition is a natural progression of that strategy," Batanga's Urbina tells Portada. Asked whether he sees Crovat producing English-language content for English-dominant Hispanics, Urbina notes that "this is definitely a possibility in the future"
Batanga’s mission is to connect, inform and entertain digital audiences in Latin America and the U.S. Hispanic market. Utilizing these properties and a network of partners, Batanga Media offers advertisers a range of digital services that target and engage audiences, delivering quantifiable results.
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