Karla - posted on 02/23/2012 ( 5 moms have responded )
Just curious about what others think of Sugar INC acquiring CoM...
I personally never heard of Sugar INC and feel I need to do a little research.
Company Adds to Parenting Portfolio of Brands and Strengthens Category Leadership
SAN FRANCISCO, CA – February 21, 2012 – Sugar Inc., a leading online media and commerce company, today announced it has entered into an agreement to acquire San Francisco-based Circle of Moms, one of the largest social networks for moms and moms-to-be. The acquisition adds to Sugar’s powerful portfolio of brands, and further extends the company’s position as a leading global women’s lifestyle brand.
"Acquiring Circle of Moms enables us to extend the reach of our existing mom audience, offer more valuable content, and strengthen our social community” said Brian Sugar, Co-founder and CEO of Sugar Inc. “Circle of Moms has successfully established itself as a leading brand within this highly-coveted demographic. We’re thrilled to welcome the Circle of Moms team to Sugar and partner together in the next phase of our growth.”
Circle of Moms is dedicated to making the lives of moms easier and more enjoyable. Originally launched on Facebook in 2008, it serves a community of 6 million moms connected together around quality content, trusted advice and topical conversations. Circle of Moms engages moms through:
• RoundUp: news and advice on parenting/mom topics;
• Child Page: a place to share special moment of a child's life, on-the-go; and
• Communities: trending conversations and topical discussions.
“Today’s announcement begins a new chapter for Circle of Moms and its thriving community,” said Ephraim Luft, Co-founder and CEO of Circle of Moms. "By combining forces with Sugar, we join another new media pioneer and a leadership team that closely shares our vision for delivering smart community-sourced content and a commitment to enriching the lives of moms.”
Upon the close of the acquisition, Circle of Moms will become a wholly owned subsidiary of Sugar Inc. and will continue to operate independently. Luft will remain in his current role, reporting to Sugar Inc. Co-founder and CEO Brian Sugar. Financial terms of the transaction were not disclosed.
About Sugar Inc.
With over 28 million monthly unique visitors worldwide, Sugar's mission is to entertain and delight its audience with insanely addictive content and unmatched shopping experiences. Through an online global network, Sugar brings to life what is personally relevant to modern women everywhere – whether it’s a red carpet moment, an inspiring fitness tip, or an exclusive shopping event. The company was founded in 2006 by Lisa and Brian Sugar and began with PopSugar, a popular entertainment news blog. Sugar is a privately held company and is backed by leading investors Sequoia Capital and Institutional Venture Partners (IVP). Learn more at: www.sugarinc.com.