Red Ventures

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Red Ventures
FormerlyRed F (1999-2003)
TypePrivate
Industry
Founded2000; 23 years ago (2000)
HeadquartersIndian Land, South Carolina, U.S.
Key people
Ric Elias (CEO)
ServicesMarketing, advertising
Divisions
Subsidiaries
Websiteredventures.com

Red Ventures is an American media company, which owns and operates brands such as Lonely Planet, CNET, ZDNet, The Points Guy, Healthline and Bankrate.[1] Red Ventures focuses on sites that dispense news, advice, and reviews.[2] The company's corporate headquarters is located in Indian Land, South Carolina, a suburb of Charlotte, North Carolina.[3]

History

Red Ventures was formed on September 29, 1999,[4] in Fort Mill, South Carolina by Ric Elias and Dan Feldstein.[5] Before its 2020 acquisitions, the company has grown into an international presence with more than 100 brands, 3,000 employees, and operations in the United Kingdom and Brazil.[6]

In 2015, the company got a $250 million investment from Silver Lake.[7] That same year, it doubled the size of its headquarters[8] and bought postal services company Imagitas from Pitney Bowes.[9]

Red Ventures acquired Bankrate Inc. for $1.24 billion in cash in a deal announced July 3, 2017.[10][11]

On September 14, 2020, Red Ventures agreed to purchase the CNET Media Group from ViacomCBS for $500 million.[12] On December 1, 2020, Red Ventures bought Lonely Planet from Tennessee-based NC2 Media.[13]

In 2021, the company had 4,500 employees and 751 million readers per month.[14][15]

Timeline

References

  1. ^ Hudson, Caroline. "Red Ventures adding jobs as it integrates ViacomCBS' CNET Media Group". Charlotte Business Journal. Retrieved November 13, 2020.
  2. ^ Goldberg, Steve (July 2019). "Why This $2 Billion Business Swears By the 'Pencil Rule'". Inc. Retrieved December 6, 2020.
  3. ^ "Red Ventures CEO: We're going to keep growing". charlotteobserver. Retrieved April 9, 2018.
  4. ^ "Red Ventures LLC". Bloomberg. Retrieved December 6, 2020.
  5. ^ Elkins, Ken (December 29, 2010). "Ric Elias and Dan Feldstein, Red Ventures". www.bizjournals.com. Retrieved September 6, 2022.
  6. ^ Sakoui, Anousha (September 14, 2020). "ViacomCBS sells CNET Media for less than half what CBS paid in 2008". The Los Angeles Times. Retrieved December 6, 2020.
  7. ^ De La Merced, Michael (January 7, 2015). "Silver Lake Makes Big Bet on Red Ventures, a Digital Marketing Company". The New York Times. Retrieved December 6, 2020.
  8. ^ Portillo, Ely (November 4, 2015). "Red Ventures breaks ground on project to double size of its headquarters". Charlotte Observer. Retrieved December 6, 2020.
  9. ^ Elkins, Ken (May 28, 2015). "Red Ventures buying company with important postal contract". Charlotte Business Journal. Retrieved December 6, 2020.
  10. ^ Stratton, Ali (July 3, 2017). "Personal Finance Website Bankrate to be Acquired by Marketing Firm Red Ventures". The Wall Street Journal. Retrieved December 6, 2020.
  11. ^ Bond, Shannon; Samson, Adam (July 3, 2020). "Bankrate website to be bought by Red Ventures for $1.24bn". Financial Times. Retrieved December 6, 2020.
  12. ^ Mullin, Benjamin. "ViacomCBS to Sell CNET to Red Ventures for $500 Million". The Wall Street Journal. Retrieved December 6, 2020.
  13. ^ Muccigrosso, Catherine (December 1, 2020). "Red Ventures gobbles up another familiar brand name. This time it's travel related". The Charlotte Observer. Retrieved December 6, 2020.
  14. ^ Stenberg, Mark (August 4, 2022). "CNET Hires Condé Nast Chief Data Officer". adweek.com. Retrieved August 11, 2022.
  15. ^ Smith, Ben (August 15, 2021). "You've Never Heard of the Biggest Digital Media Company in America". The New York Times. ISSN 0362-4331. Retrieved August 11, 2022.
  16. ^ "Staying in Red brings new life", Charlotte Business Journal, November 2, 2007
  17. ^ Leadership: Ric Elias, Red Ventures Website, retrieved July 30, 2008.
  18. ^ “Red Ventures Acquires Lead Generation Firm Modern Consumer”, Direct Magazine, June 23, 2008
  19. ^ Ventures, Red. "Red Ventures Announces Growth Capital Investment by General Atlantic". Prnewswire.com.
  20. ^ "General Atlantic Team - Anton J. Levy". General Atlantic website. Retrieved November 4, 2015.
  21. ^ "Press Release". General Atlantic. Retrieved January 15, 2016.
  22. ^ "Red Ventures buys HomeInsurance.com". Bizjournals.com. Retrieved November 21, 2021.
  23. ^ Merced, Michael J. de la. "Silver Lake Makes Big Bet on Red Ventures, a Digital Marketing Company". DealBook. Retrieved March 6, 2017.
  24. ^ a b c "We Are Red Ventures". Redventures.com. Retrieved March 6, 2017.
  25. ^ "Red Ventures Acquires Allconnect". Redventures.com. Retrieved September 7, 2017.
  26. ^ "Red Ventures Announces Closing of Acquisition of Bankrate, Inc". Redventures.com. Retrieved November 8, 2017.
  27. ^ "Red Ventures Acquires HigherEducation.com". Redventures.com. Retrieved May 13, 2019.
  28. ^ "Red Ventures Acquires Healthline Media". Redventures.com. Retrieved August 7, 2019.
  29. ^ Spangler, Todd. "ViacomCBS Reaches Deal to Sell CNET for $500 Million to Marketing Firm Red Ventures". Variety. Retrieved November 13, 2020.
  30. ^ a b Asimov, Eric (March 10, 2022). "Chowhound Closes After 25 Years of Food Obsession, Wisdom, and Debate". The New York Times.
  31. ^ "Red Ventures Acquires Lonely Planet". Retrieved December 1, 2020.
  32. ^ Burke-Kennedy, Eoin. "Lonely Planet sold to US digital marketing group for undisclosed sum". Irish Times. Retrieved December 6, 2020.
  33. ^ "RV Health, A Red Ventures Business, Acquires Healthgrades.com from Mercury Healthcare | Red Ventures". Redventures.com. Retrieved September 2, 2021.
  34. ^ Lagasse, Jeff (July 13, 2022). "Optum, Red Ventures partner on consumer healthcare platform". Healthcare Finance News. Retrieved September 8, 2022.
  35. ^ Weprin, Alex (October 3, 2022). "TV Guide, Metacritic, GameSpot Acquired by Fandom in $55M Deal With Red Ventures". The Hollywood Reporter. Retrieved October 3, 2022.

External links

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