Media companies are hot property again. News Corp has purchased female web entrepreneur Katie May's online parenting portal Kidspot for an estimated $45 million.
Kidspot is only six-year-old and it's value is in its strong community, including related websites as Birth.com.au, Kidspot.co.nz, The Spot, SheSpot, Research Studies, Mums Say and Baby and Kids Market.
According to Smartcompany, The KidSpot group is currently turning over about $7 million a year, with annual growth at nearly 70%, and counts more than 1.3 million unique visitors a month. Katie May is a real Female Internet Hero, a serial entrepreneur, who previously co-founded Seek.com.au.
Kidspot has grown over the last year and a half, by building partnerships with some of the better brands in Australia. According to the founder, It's a much tougher race now ? far more aggressive ? and to have muscle behind the website is a good thing, and it will allow the company to try new projects with corporate backing.
News Limited chief John Hartigan said in a statement Kidspot was attractive partly due to its 31,000 fans on Facebook, representing one of the largest, "most active" fan bases of any Australian media group.
"This deal makes us the leading player in the highly valuable online parenting market and, by combining Kidspot with the most dominant food vertical, Taste.com.au, and the most aspirational fashion vertical, Vogue.com.au, we now have an unrivalled presence in the online market for Australian women," Hartigan says. "By delivering exactly what advertisers want ? an engaged, loyal and targeted audience ? the Kidspot team have built a profitable, rapidly growing, digital business."
The deal is a testament to significant growth in the online community space, with media giants eager to appeal to the large number of mothers who have more time to research parenting information online.
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