Purch acquires Business.com
Company makes sixth acquisition since 2014, aiming to expand further into SMB market.
Today Purch, a digital content and commerce company that helps users make buying decisions, announced that it has acquired Business.com, the latest in a spree of acquisitions since 2014.
This most recent purchase expands Purch’s omni-category approach to decision enablement, expanding its business into over 1,200 categories including consumer electronics, technology, home, outdoor, and health.
It further facilitates the expansion of the company’s content and commerce business model into the Small to Midsize Businesses (SMB) market.
“In addition to educating small business owners through content, Purch is redefining the marketplace for SMB purchases by making it easier for buyers to discover, learn about, compare, and buy products and services they need to run and expand their businesses,” Greg Mason, Purch’s CEO, said in a statement.
Business.com helps people grow their business by providing knowledge, products, and services. It further connects advertisers with buyers to generate over $1.6 billion in incremental annual revenue, according to its website.
Terms of the deal were not disclosed.
“This is a great step for our customers, our employees, and our investors, and I’m thrilled that Business.com will play a central role in Purch’s strategy and growth plans,” said Tony Uphoff, CEO of Business.com, in a Facebook post. “This is the culmination of three plus years of extraordinary work by the team that transformed the legacy Business.com into a vibrant, fast growing daily destination for business execs and a marketing platform for marketers looking to reach, engage, and sell to them.”
This is not the first foray into the SMB market for Purch, however. The company’s existing assets that serve SMBs include BuyerZone and Business News Daily. Purch has owned Business News Daily since its founding in 2010.
In January 2014, Purch, then known as TechMedia, acquired BuyerZone, an SMB purchasing and lead generation platform. Reflecting the company’s focus on purchasing decisions, it rebranded from TechMedia to Purch in April 2014.
Purch has also made several acquisitions that helped enhance the B2C side of its commerce-enablement platform.
In December 2014, Purch acquired AnandTech, a tech blog whose initial claim to fame was in-depth hardware reviews, and later expanded to cover mobile, software, and general tech news.
Purch’s acquisition momentum was largely funded by a $135 million investment round from Canso Investment Counsel.
The company then acquired Active Junky, a loyalty platform and online shopping community geared towards the outdoor enthusiast market, in September 2015. Purch then expanded Activy Junk’s loyalty program to its other sites.
In December 2015, Purch made its third acquisition of the year, buying the mobile shopping app ShopSavvy.
Now, by purchasing Business.com, it appears the company is returning to a focus on B2B.
“This ties directly to our business model—using high-value content and services to support and drive commerce. As SMBs are face with an overwhelming number of choices and an onslaught of new products and services, we’re arming them with first-hand insight from highly regarded experts and peers,” said Mason in a statement.