Hearst Acquires Social Networking Site
Hoping to capitalize on the online teen market Hearst Magazine’s digital unit has acquired eCrush.com a conglomerate of entertainment and social networking sites for teens and young adults. The purchase price has not been disclosed.
Chuck Cordray, vice president and general manager of Hearst Magazines Digital Media, said, “As social networking and interactivity online become an integral part of teenagers’ lives, we want to be everywhere they turn. The addition of the eCRUSH Network enables Hearst to broaden our presence in the online arena for teens and become a true destination for everything from fashion and beauty to advice and community.”
The acquisition includes eCrush, eSpin, and HighSchoolStyleBoard . The expansion by Hearst will allow marketers to advertise on all of the teen sites that they own and offer ad packages across the network with the potential to reach millions of young adults.
“We are thrilled to become a part of Hearst’s incredible network of teen brands and believe that it’s the perfect fit for the eCRUSH audience, as well as for our advertisers,” said Amy Gibby, president, eCRUSH.com.
The eCrush network of sites has more than one million unique visitors per month. 90 percent are ages 13 to 19 according to the company. They also say they have around 2.4 million users.
Hearst also has plans to launch MyPromShopper.com later this month. The site will focus on prom related activities and will allow users to publish results to third party social networking sites.