Business-to-Business Division to Pursue SMB Market Opportunity with Business.com.
Purch, a digital publisher and marketplace platform, announced today the agreement to sell its U.S.-based Business-to-Consumer (B2C) business unit and all associated brands and services to Future US, Inc., a subsidiary of the publicly traded UK-based media company, Future Publishing Ltd. The sale includes the Purch brand along with the full portfolio of consumer brands, including Tom’s Guide, Tom’s Hardware, TopTenReviews, ShopSavvy, Live Science, and Space.com. The sale also includes Purch’s innovative yield optimization platform, RAMP, and its associated licensing business.
The existing Business-to-Business (B2B) unit will move forward as Business.com, renamed after the B2B business’ marquee brand.
“As CEO, it’s been a thrilling and rewarding experience to help guide the development of Purch as a leading marketplace-centered publisher. Our focus on content and commerce and the development of proprietary monetization technology enabled us to build a diversified and profitable business, while avoiding the challenges of ad-dependent publishing models. We are joining forces with a like-minded publisher with strong complementary assets. Future’s acquisition of the B2C business unit is an opportunity to grow Purch more rapidly and to realize its full potential,” said Greg Mason, Purch CEO.
“The acquisition of Purch’s consumer division, with its leading titles, such as Tom’s Hardware, Tom’s Guide and Space.com, gives us market-leading authority in the US, helping us deliver on our mission to be a global platform for specialist publishing. I’ve been impressed by the strength of Purch’s technology platforms and the expertise of its people. Together, we will build a combined organization that has scale and growth opportunities ahead. The two businesses share similar cultures – we both share our audiences’ passion, we’re data-driven, ambitious and both have an innovation-led mindset. I look forward to welcoming our new Purch teams on board at Future,” added Future CEO Zillah Byng-Thorne.
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The sale is expected to close in August.
The remaining B2B business unit, now named Business.com, will continue to focus on developing its unique marketplace-centered business model serving the small- to medium-business (SMB) community. Already a large and profitable business, Business.com and its portfolio of related brands now have the opportunity to further expand the content and services they offer to small business owners, arguably the largest and most important segment of the U.S. economy.
The B2B business has grown considerably from when Purch acquired BuyerZone in 2014, followed by the Business.com brand in 2016. Its service-oriented digital platform provides SMBs with the advice and tools they need to grow their businesses to the next level, and the company has plans to significantly expand the services it brings to its millions of members.