How About We moves into Media Business
What: HowAboutWe has launched HowAboutWe Media, an online publications network independent of its dating site. The network includes recently aquired Nerve.com as well as new publications Swimmingly, covering "coupledom" and Famously that will debate celebrity relationships.
Why it matters: Online Dating Sites are big business. Many of them produce a very high engagement and have discovered that they can be good advertising platforms.
HowAboutWe, an online dating platform, has launched HowAboutWe Media, an online publications network independent of its dating site. It will consist of two new publications, Swimmingly and Famously, which have already gone live and the acquisition of an existing publication, Nerve.com.
Nerve is an online magazine which was founded by Rufus Griscom in 1997.It covers the intersection of sex and love. As part of the deal, it will undergo a redesign and relaunch. Nerve Dating, will be rolled into HowAboutWe’s existing dating platform, which currently has around 2 million users.
Swimmingly content will cover "coupledom" and Famously will debate celebrity relationships.
Still, HowAboutWe already has two separate subscription-based properties: HowAboutWe Dating, which operates through a blog known as “The Date Report” for singles, and HowAboutWe couples for couples. These two will continue to operate separately from the new media network, HowAboutWe Media. The “Date Report” will get a redesign as part of the deal and the idea is the blog to be supplemented with these three publications .
Griscom in cooperation with magazine's current CEO Sean Mills will be among the advisors of the media group.
Brian Moylan, who has been editing for TheDateReport, will now take over as Editor in Chief of HowAboutMedia.
"Modern love is an extremely fascinating topic and it’s long been a darling of media business so the demand is there. There is a lot of content on this topic but there’s nobody that’s 100 percent focused on all things love day in and day out," co-founder of HowAboutWe Media Aaron Schildkrout told Capital.
The acquisition of Nerve.com was made in exchange for a combination of stock and equity.
HowAboutWe has earned over US $22 million in venture funding since launch in 2010, from investors like Venture Capital and Khosla Ventures. Nowadays, it claims to have more than 16 million monthly visitors.
This new network is intended to offer singles a place to go after they’ve found a relationship. HowAboutWe is also aiming to build out a new lifestyle media network through this acquisition, accompanied with an advertising division. The terms of the acquisition have not yet been disclosed.
Source:Capital New York