Demand Media has completed the acquisition of e-commerce marketplace Society6 under a $94m transaction as part of the company’s efforts to expand its business.
The e-commerce marketplace allows artists to upload and sell unique artwork and sell a various products including phone cases, art prints, home decor, and other merchandise.
Demand Media chairman and CEO, Richard Rosenblatt, said that the acquisition of Society6 augments and diversifies the company’s content and media platform by adding an innovative e-commerce marketplace with multiple traffic sources and a large community of talented artists.
"This acquisition will significantly accelerate the scale of our e-commerce business as we continue to expand into new revenue models," Rosenblatt said.
Society6 also boosts Demand Media’s content and media platform via its e-commerce marketplace, which now includes over 100 million product stock keeping units (SKU) and a community of more than 300,000 members.
"We intend to expand Society6 by offering their unique marketplace to our existing media audience of more than 100 million unique global visitors per month," Rosenblatt added.
"In addition, we plan to leverage our expertise in managing content creation platforms, our experience in building creator communities, and our significant engineering and product resources to further drive Society6’s scale and growth."
In March 2013, Demand Media Creativebug, which is a network of artists who produce how-to videos on crafting skills including knitting and making jewellery.