DIGITAL DUO: European Web site Aufeminin.com, owned by Axel Springer AG, said it has agreed to buy Livingly Media Inc., based in San Carlos, Calif., which publishes women’s lifestyle sites Zimbio.com, StyleBistro.com and Lonny.com.
The deal involves an initial purchase price of $25 million and an EBITDA-driven earn-out, lasting until 2019, which could increase the total consideration to about $50 million, according to Aufeminin. It said the purchase will be financed using the group’s cash flow.
Aufeminin described Livingly as “one of the top-25 digital publishers of lifestyle content in the United States.”
Livingly was begun in 2006 by Tony Mamone and Danny Khatib, who will continue running the company that currently employs 65 people.
The firm posted organic growth of 40 percent last year, when sales reached about $15 million. It had more than 28 million unique visitors.
“A year after the integration of My Little Paris, Aufeminin group is pursuing its strategy in acquiring expertise in innovative and new territories,” the company stated. “The group in 2015 will represent an aggregated multi-device audience of 148 million visitors per month.”