Purch Group, Inc. was a New York City-based digital media company. Originally established in 2003 as TechMedia Network, Inc., it was positioned as a "portfolio of brands and products focused on purchasing decisions"—consisting primarily of websites focusing on reviews of consumer electronics, positioned to marketers as outlets to "directly engage with buyers in the right place, at the right time".[1]
 | |
| Purch Group | |
| Formerly | TechMedia Network, Inc. (2003–2014) |
| Company type | Private |
| Industry | Content marketing |
| Founded | 2003 (as TopTenReviews, Inc.) |
| Fate | Acquired by Future plc, B2B assets retained as Business.com |
| Headquarters | New York City, New York, U.S. |
Key people | Greg Mason, CEO |
| Products | online content websites, technology websites |
| Brands |
|
Number of employees | 350+ |
| Website | purch |
In 2018, Purch sold its consumer brands to Future plc. Its business-to-business unit Business.com was not included in the sale.
History
editIn 2009, Purch, then known as TechMedia Network, Inc. acquired LiveScience, Space.com and Newsarama from Imaginova.[2] Two years later, TechMedia Network acquired Laptop Magazine from Bedford Communications.[3] In July 2013, the company acquired Bestofmedia Group,[4] publisher of Tom's Hardware, Tom's Guide, Tom's IT Pro, Anandtech and a variety of sister publications across Europe. TechMedia Network, Inc. acquired BuyerZone.com, LLC[5] from Reed Business Information in early 2014.
In April 2014, TechMedia Network. changed its name to Purch and simultaneously announced an exclusive partnership with Mobile Nations,[6] a portfolio of mobile-focused online communities. In December 2014, Purch announced the acquisition of AnandTech and in March 2015 the company announced the acquisition of mobile shopping app Consumr,[7] which was rebranded that following July as Purchx.[8] Included in the rebrand was the launch of the Purch Marketplace, where shoppers can browse and buy technology products and services online.[9] In September 2015, Purch acquired Active Junky, a loyalty program and online shopping site for outdoor gear.[10] This was followed by the December 2015 acquisition of ShopSavvy, a mobile shopping app.[11]
Purch's 2015 round of funding ($135 million) was led by Canso Investment Counsel.[12] Purch has received additional funding from ABS Capital Partners, Village Ventures, and Highway 12 Ventures. Purch was headquartered in New York City, where Greg Mason served as CEO.
In 2018, Purch announced that it would sell its consumer brands to British media company Future plc for $132.5 million.[13] Its business-to-business operations were retained under the Business.com banner (which it had acquired in 2016).[14]
List of websites
editThe company owned and operated the following websites:[15]
- AnandTech[16]
- LiveScience
- Newsarama
- Space.com
- Tom's Hardware (Tom’s Guide)
Following websites were not included during the sale to Future, and went under Business.com:
References
edit- ^ Welton, Caysey (April 30, 2014). "TechMedia Network Rebrands as Purch, Establishes Multi-Brand Partnership". Folio. Retrieved November 27, 2015.
- ^ "The Hot Web Content Company You've Never Heard Of - Digiday". Digiday. Retrieved 2016-03-14.
- ^ "TechMediaNetwork Acquires LAPTOP Magazine and Laptop.com - Folio". Folio. Retrieved 2016-03-14.
- ^ Brooke, Eliza. "TechMedia Network Buys Bestofmedia Group And Steps Up Content-Commerce Integration". TechCrunch. Retrieved 2016-03-14.
- ^ "TechMedia Network Acquires BuyerZone - Folio". Folio. Retrieved 2016-03-14.
- ^ "Introducing Purch: The Definitive Buying Decision Platform". Marketwire. Retrieved 2016-03-14.
- ^ "Purch Acquires Comparison Shopping App Consumr". pevc.dowjones.com. Retrieved 2016-03-14.
- ^ "Purch Makes Shopping Easy With New Purchx App & Purch Marketplace | Purch". purch.com. Retrieved 2016-03-14.
- ^ "Purch Makes Shopping Easy With New Purchx App & Purch Marketplace | Purch". purch.com. Retrieved 2016-05-02.
- ^ "Purch Acquires Active Junky, an Innovative Customer Loyalty and Rewards Platform | Purch". purch.com. Retrieved 2016-03-14.
- ^ "Purch Acquires ShopSavvy, One of the World's Largest Mobile Shopping Platforms, to Build Mobile App Ecosystem & Drive User Loyalty | Purch". purch.com. Retrieved 2016-03-14.
- ^ "Purch Closes $135 Million Investment to Expand Commerce-Driven Digital Publishing Model | Purch". purch.com. Retrieved 2016-03-14.
- ^ "UK-Based Future Acquires Purch for $132.5 Million". Folio. 2018-07-19. Retrieved 2018-09-03.
- ^ "Future PLC Acquires Purch's B2C Brands, B2B Division Renamed Business.com". Mediapost.com. Retrieved 2019-10-16.
- ^ Purch (2014). "Advertise with Purch". Purch. Retrieved November 27, 2015.
- ^ Purch (December 17, 2014). "Purch Acquires AnandTech, Dominates Tech Expert and Enthusiast Market" (Press release). New York, NY. Retrieved November 27, 2015.
- ^ Ha, Anthony. "Purch acquires small-business site Business.com". TechCrunch. Retrieved 2016-08-07.