Purch Group

Last updated
Purch Group, Inc.
Purch Group
FormerlyTechMedia Network, Inc. (2003–2014)
Type Private
Industry Content marketing
Founded2003;20 years ago (2003) (as TopTenReviews, Inc.)
FateAcquired by Future plc, B2B assets retained as Business.com
Headquarters New York City, New York, U.S.
Key people
Greg Mason, CEO
Productsonline content websites, technology websites
Brands
  • Active Junky
  • Consumr
  • Herman Street
  • ShopSavvy
Number of employees
350+
Website purch.com

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]

Contents

In 2018, Purch sold its consumer brands to Future plc. Its business-to-business unit Business.com was not included in the sale.

History

In 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

The company owned and operated the following websites: [15]

Following websites were not included during the sale to Future, and went under Business.com:

Related Research Articles

<span class="mw-page-title-main">Future plc</span> International multimedia company

Future plc is an international multimedia company established in the United Kingdom in 1985. The company has over 220 brands that span magazines, newsletters, websites, and events in fields such as video games, technology, films, music, photography, home, and knowledge. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

<i>AnandTech</i> Online computer hardware magazine owned by Future plc

AnandTech is an online computer hardware magazine owned by Future plc. It was founded in 1997 by then-14-year-old Anand Lal Shimpi, who served as CEO and editor-in-chief until August 30, 2014, with Ryan Smith replacing him as editor-in-chief. The web site is a source of hardware reviews for off-the-shelf components and exhaustive benchmarking, targeted towards computer building enthusiasts, but later expanded to cover mobile devices such as smartphones and tablets. Its investigative articles have been cited by other technology news sites like PC Magazine and The Inquirer.

<span class="mw-page-title-main">Rakuten</span> Japanese e-commerce company

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Business.com is a digital media company and B2B web destination which offers various performance marketing advertising, including lead generation products on a pay per lead and pay per click basis, directory listings, and display advertising. The site covers business industry news and trends for growth companies and the B2B community to stay up-to-date, and hosted more than 15,000 pieces of content as of November 2014. Business.com operates as a subsidiary of the Purch Group since being acquired in 2016.

Tom's Hardware is an online publication owned by Future plc and focused on technology. It was founded in 1996 by Thomas Pabst. It provides articles, news, price comparisons, videos and reviews on computer hardware and high technology. The site features coverage on CPUs, motherboards, RAM, PC cases, graphic cards, display technology, power supplies and displays, storage, smartphones, tablets, gaming, consoles, and computer peripherals.

<span class="mw-page-title-main">Future US</span> American media company

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<span class="mw-page-title-main">Space.com</span> Space and astronomy news website

Space.com is an online publication focused on space exploration, astronomy, skywatching and entertainment, with editorial teams based in the United States and United Kingdom. The website offers live coverage of space missions, astronomical discoveries and reviews about skywatching telescopes, binoculars and sci-fi entertainment gear. It is owned by Future plc headquartered in Bath City, England. Its stories are often syndicated to other media outlets, including CNN, MSNBC, Yahoo!, and USA Today.

<i>Newsarama</i> American website based around comic books

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Chairish is a curated online marketplace for high-end vintage home furnishings. Chairish accepts furniture and decor with a minimum listing price of $25. Listing items is free, and the seller keeps up to 80 percent of the final sale.

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go90 American video streaming service

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References

  1. ↑ Welton, Caysey (April 30, 2014). "TechMedia Network Rebrands as Purch, Establishes Multi-Brand Partnership". Folio. Retrieved November 27, 2015.
  2. ↑ "The Hot Web Content Company You've Never Heard Of - Digiday". Digiday . Retrieved 2016-03-14.
  3. ↑ "TechMediaNetwork Acquires LAPTOP Magazine and Laptop.com - Folio". Folio. Retrieved 2016-03-14.
  4. ↑ Brooke, Eliza. "TechMedia Network Buys Bestofmedia Group And Steps Up Content-Commerce Integration". TechCrunch. Retrieved 2016-03-14.
  5. ↑ "TechMedia Network Acquires BuyerZone - Folio". Folio. Retrieved 2016-03-14.
  6. ↑ "Introducing Purch: The Definitive Buying Decision Platform". Marketwire. Retrieved 2016-03-14.
  7. ↑ "Purch Acquires Comparison Shopping App Consumr". pevc.dowjones.com. Retrieved 2016-03-14.
  8. ↑ "Purch Makes Shopping Easy With New Purchx App & Purch Marketplace | Purch". purch.com. Retrieved 2016-03-14.
  9. ↑ "Purch Makes Shopping Easy With New Purchx App & Purch Marketplace | Purch". purch.com. Retrieved 2016-05-02.
  10. ↑ "Purch Acquires Active Junky, an Innovative Customer Loyalty and Rewards Platform | Purch". purch.com. Retrieved 2016-03-14.
  11. ↑ "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.
  12. ↑ "Purch Closes $135 Million Investment to Expand Commerce-Driven Digital Publishing Model | Purch". purch.com. Retrieved 2016-03-14.
  13. ↑ "UK-Based Future Acquires Purch for $132.5 Million". Folio. 2018-07-19. Retrieved 2018-09-03.
  14. ↑ "Future PLC Acquires Purch's B2C Brands, B2B Division Renamed Business.com". Mediapost.com. Retrieved 2019-10-16.
  15. ↑ Purch (2014). "Advertise with Purch". Purch. Retrieved November 27, 2015.
  16. ↑ Purch (December 17, 2014). "Purch Acquires AnandTech, Dominates Tech Expert and Enthusiast Market" (Press release). New York, NY. Retrieved November 27, 2015.
  17. ↑ Ha, Anthony. "Purch acquires small-business site Business.com". TechCrunch. Retrieved 2016-08-07.
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