Maven Growth on Track to Hit Financial Targets
Say and Maven sign definitive agreement, mergers help transform scale and efficiency
Maven’s combined advertisers now reach 110M monthly users, up from Maven’s 6.1M in May. Operational integration with HubPages
and Say Media transformed the enterprise from a start-up to a top 20 U.S. digital media property. On October 12, 2018, Maven and
Say Media signed a final
definitive merger agreement, with the merger scheduled to close in December. Maven recently led a reorganization of all three
companies into a single operation, creating efficiencies which kept Maven on-track to hit $30M annualized revenue and EBITDAS
positive by end of year, on a combined post-closing basis, assuming completion of Say Media acquisition closes as scheduled.
The Say Media merger dramatically increases Maven’s scale and brand equity, bringing household brands such as
History,
Biography,
Maxim,
SkiMag,
Climbing,
Fashionista,
Guitar World,
Inked, and
Every Day with Rachael Ray into Maven’s premium coalition. Growth in
Maven’s NFL,
Political and
Financial networks have also contributed to the increased scale, with 20 NFL team channels, 23 Finance channels and 28
political destinations now live, and an additional 52 scheduled for migration. Overall, Maven channels grew from 197 in June to 259
in September, and are expected to reach over 300 in December.
“Maven launched less than two years ago, with a loyal team of digital media veterans and a vision to provide a fair,
transparent, sustainable ecosystem for authentic content creators - and to unite as a broad-based coalition within a single
platform and media brand,” stated CEO James Heckman. “That vision is now a reality at major media scale and quality.”
Maven is a coalition of mavens operating on a shared digital publishing, advertising and distribution platform,
unified under a single media brand. Based in Seattle, Maven is publicly traded under the ticker symbol
MVEN.
Maven
Michelle Panzer
mpanzer@maven.io
View source version on businesswire.com: https://www.businesswire.com/news/home/20181025005272/en/