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HowStuffWorks Acquired by Discovery for $250M

HowStuffWorks is the latest acquisition by Discovery Communications, for $250 million. Included in the purchase are HowStuffWorks’ entire network of online properties, including a map database. While the map database doesn’t seem to be figured into the overall price of this particular acquisition, as it’s not yet profitable, this is Discovery’s largest online acquisition.

HowStuffWorks is an online reference tool with a reported 11 million users around the world and 3.8 million unique US visitors per month. Launched nearly 10 years ago, the reference site will be merged with Discovery’s video content, as well as its future programs. This is all in an effort to improve Discovery’s own websites, which are in need of an update and help building out vertically. HowStuffWorks was a well-funded company, raising a total of $125 million over three rounds, with investment from Carl C. Ichan, and international funding from venture companies in China and Brazil.

There’s a number of reference sites being acquired by traditional media companies as they look to leverage the existing networks for additional information to be incorporated into their ongoing programming and for their web presence. Lonely Planet, which produces content for Discovery as well, was recently acquired by the BBC.”

Original story

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October 15, 2007 - Posted by | financial, news, random

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