Comcast Interactive Media, the digital entertainment division of Comcast Corp., is sweetening things up. The company plans to acquire pop-culture e-mail newsletter publisher DailyCandy Inc. for nearly $125 million, according to
published reports.
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New York-based DailyCandy sends tips on fashion, beauty, dining and
culture via its daily newsletters targeting trend-conscious young
women and specifies to 11 major U.S. cities and London. The company has
commanded quite a following, boasting 2.5 million subscribers, reports said, and
big-name advertisers like American Express Co. and Target Corp.
DailyCandy is majority-owned by former AOL exec Bob Pittman's Pilot
Group LLC, which invested in 2003. Unable to find a buyer willing to
pay $100 million for the company, DailyCandy in 2006 raised a round of
financing that
valued it at $130 million. The Deal's Tech Confidential
pointed out back then how strange it seemed to disclose the valuation, rather than the amount raised, and not disclose the investors. Meanwhile, CIM has been acquisitive as
it builds up its online entertainment properties. See
TheDeal.com for more. -
Carolyn MurphySee story from
paidContent.orgSee VC Ratings:
DailyCandy valued at $130 million
