Minute Media, a leading global publishing and technology platform, announced the acquisition of Mental Floss, an award-winning media brand living at the intersection of knowledge and entertainment. This acquisition brings yet another great direct-to- consumer brand into the Minute Media portfolio and strategically aligns with Minute Media’s goal of growing its millennial-focused user base.
As a part of the acquisition, Minute Media will be acquiring a talented group of Mental Floss employees who have established a clear leadership position, over years of hard work, in a distinct content category. Additionally, Minute Media will take on management of Mental Floss' digital assets including website, social channels, programmatic and direct advertising customers. All digital assets will continue to operate under the Mental Floss brand.
“The acquisition is a natural evolution of Minute Media’s platform strategy,” said Asaf Peled, Founder and CEO of Minute Media. “Our technology first approach to publishing gives us the flexibility to pivot quickly and grow loyal and engaged communities at incredible scale. Having already proven the value of our unique model across sports publishing, we’re thrilled to have Mental Floss serve as our first of several strategic acquisitions and believe that the brand complements our current portfolio of digital assets.”
Earlier this year, Minute Media added capital, bringing its total fundraising to $77M to date. As part of this efficiently scale into new markets and content verticals. The Mental Floss acquisition is one major and key step in this evolving and growing process.
Minute Media is acquiring Mental Floss from the Felix Dennis estate.
“The Executors of Felix Dennis’ estate are delighted to announce the sale of Mental Floss to Minute Media. We see Minute Media as a fantastic home for the Mental Floss business. Their strategic plan, reputation, technical platform and media proposition are extremely strong, and we are confident that they will further the growth and reputation of Mental Floss,” said Ian Leggett on behalf of the Executors of the Felix Dennis estate. “The proceeds of this sale go to the Heart of England Forest, a charity established by Felix during his lifetime."