BlogHer, a US-based online network for women has benn acquired by media company SheKnows Media in a deal valued at between $30m and $40m, AdvertisingAge reported on Monday.
The deal provided an exit for Peacock Equity, the corporate venturing joint venture between conglomerate General Electric and television network NBC Universal, as well as venture capital firms Venrock and Azure Capital. Peacock has since merged with the corporate venturing subsidiary of cable service Comcast.
BlogHer, founded in 2005, is as online community and media company for women to share trends and news. The acquisition will see the two companies integrate their sales and marketing efforts to form a single women’s online lifestyle network.
Lisa Stone, co-founder and chief executive of BlogHer, said: “As SheKnows Media, our joint strengths are amplified: BlogHer’s leading conferences, proprietary technology platform and our massive, distributed network of trusted communities will now benefit from SheKnows’ premium monetisation channels and expertise in branded video content.
“Together, we will extend our reach to just about every corner of the women’s web, where our influencers lead conversations on everything from politics to parenting.”
BlogHer raised $7m in a 2009 series C round backed by NBC Universal, Peacock, Venrock and Azure Capital, after raising $5m in 2008 from Peacock Equity and Venrock. Venrock invested $3.5m for the company’s series A round in 2007.