Time Inc. seems to be on acquisition spree for it has now acquired XoJane and XoVain after its acquisition of HelloGiggles last week. Financial terms of the deal has not been revealed.
Founded in 2011 by Sassy and Jane magazine founding editor Jane Pratt, XoJane.com is a site where “women go when they are being selfish, and where their selfishness is applauded.” It is said to be created by women of community who have strong ideas, identities and opinions who write about their actual experiences. Founded in 2013, XoVain is a companion site that pitches itself as “new kind of beauty site where there are no secrets.”The site looks at beauty as a tool to make women feel good about their own self.
Both the website came up for sale in November of last year by the parent company Say Media as the publisher moved away from owning and running websites to powering the advertising network and technology platform that serve as base. Reports suggest that both the websites were supposed to be acquired by a media company in may, but the deal did not fall in place.
The acquisition of XoVain and XoJane is expected to help the Sports Illustrated and InStyle publisher increase its market reach with younger women and generate more advertising from the beauty and style categories. In a matter of two years, the websites audience increased by over 104% with the traction of more than 2.5 million unique visitors in September, according to reports from comScore. Editors of both the sites, Jane Pratt and her editorial team are expected to move to Time Inc’s new headquarters at lower Manhattan by end of this year.
The acquisition of two sites is expected to go on with strengthening Time Inc’s digital credentials as a means of compensating for fall in print ad revenue.
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