Israeli digital content publishing platform company Minute Media today announced it has acquired Tel Aviv-based company Wazimo. The financial terms of the deal have not been disclosed but sources close to the matter estimate that the acquisition is for $70-80 million. Wazimo's expertise in combining engaging content with advanced technology will bolster Money Media's audience growth, engagement and monetization tools. Together Minute Media and Wazimo, will solve some of today’s largest publishing challenges, allowing digital publishers and content creators to build, segment and grow audiences at scale.
Wazimo is the first technology-focused acquisition for Minute Media. Previously, Minute Media had expanded its content portfolio through acquisitions, including The Players’ Tribune and FanSided. The Wazimo deal was focused on acquiring the company's technology and data capabilities.
Minute Media was founded in 2011 by CEO Asaf Peled, Gili Beiman and Yuval Larom and has raised $180 million to date. Both Beiman and Larom are no longer active in the company. Minute Media has developed a platform that allows users to create their own original content, which then distributes the content on the web. The company has partnerships with major media organizations including MSN Group and Sports Illustrated.
Peled said, "The engine behind Minute Media’s growth is our technology platform Voltax and we are continuously looking to enhance and strengthen the Voltax offering for our content businesses and those of our partners. Wazimo brings an exceptional team with expertise in growing audiences and revenue at scale through a data-driven approach. We are thrilled to bring their technology into the Voltax platform to help our own brands and clients grow their content business."
Wazimo cofounder and CEO Oded Rosenboim added, "We are thrilled to join the Minute Media team, and are confident that the strategic alignment of our technologies, and increased resources, will drive exponential growth for our partners. We will continue to invest in technology and first-party data solutions to ensure we and our partners are well-prepared for the cookieless world and the ever-changing content industry."
Published by Globes, Israel business news - en.globes.co.il - on November 10, 2021.
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