M&A Deal Summary

NTWRK Acquires Complex Networks

On February 21, 2024, NTWRK acquired digital media company Complex Networks from BuzzFeed for 109M USD

Acquisition Highlights
  • This is NTWRK’s 1st transaction in the Digital Media sector.
  • This is NTWRK’s largest (disclosed) transaction.
  • This is NTWRK’s 1st transaction in the United States.
  • This is NTWRK’s 1st transaction in New York.

M&A Deal Summary
Date 2024-02-21
Target Complex Networks
Sector Digital Media
Buyer(s) NTWRK
Sellers(s) BuzzFeed
Deal Type Divestiture
Deal Value 109M USD

Target

Complex Networks

New York, New York, United States
website
Complex Networks champions the people, brands, and new trends needed to know now, will obsess over next, and builds consumer universes around them. The company was formed from the acquisition of Complex Media Inc. through a joint venture by Verizon and Hearst, creates and distributes original programming with premium distributors including Netflix, Hulu, Turner, Corus, Facebook, Snap, Fuse, Pluto TV, Roku, and more. Its content spans across the music to movies, sports to video games, fashion to food, and more. Complex Networks was formed in 2002 and is based in New York, New York.

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Buyer(S) 1

Buyer

NTWRK

Wilmington, Delaware, United States

website

Category Company
Sector Digital Media
DESCRIPTION

NTWRK is a curated livestream shopping marketplace that brings together artists, brands, and personalities to celebrate culture. Rooted in sneakers, streetwear, and all things collectible, it offers unprecedented access to rare and exclusive products – all while fostering communities of buyers and sellers through livestream shopping. NTWRK is based in Wilmington, Delaware.

DEAL STATS #
Overall 1 of 1
Sector (Digital Media) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

BuzzFeed

New York, New York, United States

website

Category Company
Founded 2006
Sector Digital Media
DESCRIPTION

BuzzFeed is an independent digital media and tech company delivering news and entertainment content to a global audience. The company covers breaking news, produces original video, and creates content that people want to share on the web. It has offices in 18 cities around the world and more than 1500 employees including reporters, video producers, data scientists, engineers, brand strategists, and more. BuzzFeed was formed in 2006 and is based in New York, New York.

DEAL STATS #
Overall 1 of 1
Sector (Digital Media) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-24 Complex Networks

New York, New York, United States

Complex Networks champions the people, brands, and new trends needed to know now, will obsess over next, and builds consumer universes around them. The company was formed from the acquisition of Complex Media Inc. through a joint venture by Verizon and Hearst, creates and distributes original programming with premium distributors including Netflix, Hulu, Turner, Corus, Facebook, Snap, Fuse, Pluto TV, Roku, and more. Its content spans across the music to movies, sports to video games, fashion to food, and more. Complex Networks was formed in 2002 and is based in New York, New York.

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