NEW YORK--(BUSINESS WIRE)--SheKnows Media, a leading women’s media company with 92.5 million unique visitors per month* and a total reach of 256 million social media fans, today announced that it has closed an expanded credit facility of $22 million through Ally Corporate Finance in fourth quarter 2015.
“In December 2015, we achieved our peak audience reach of 92.5 million and we rank first within comScore’s Lifestyles category in Female Audience – a position we’ve held firmly for the 13th consecutive month,” said Philippe Guelton, Chief Executive Officer, SheKnows Media. “This last year has been marked by incredible growth for the company. In particular, we have successfully completed the integration of BlogHer, which we acquired in November 2014. In a world where women dominate wallet share and make the lion’s share of purchasing decisions, Ally recognizes the long-term potential of this unrelenting and consistent growth. I could not be more pleased to have them on board as our preferred financing source.”
SheKnows Media initiated fundraising effort to enhance and scale its Momentum technology platform. Momentum is SheKnows Media’s proprietary content and community engine, where brands and the Company’s 21,000-member influencer community converge. The platform allows influencers to develop and distribute authentic content at scale, while guaranteeing user engagement for each campaign. Brands who leverage Momentum can track all activity in a real-time interface verified by third-party performance data.
In addition to Momentum, SheKnows Media will leverage the capital received from Ally to deepen its value proposition to advertisers by offering an even more robust end-to-end suite of premium branded content and influencer marketing solutions.
Franklin Vincent, SheKnows Media’s Chief Financial Officer, added, “We are excited to work with the media and technology finance team at Ally, as they understand the Company’s capital needs in our stage of growth. They have provided us with a creative and flexible credit facility that will give us access to working capital as we execute our expansion and product development plans in 2016 and beyond.”
Financial terms of the deal between Ally and SheKnows Media were not disclosed.
“We are very pleased to provide financing to a top women’s lifestyle site such as SheKnows Media as it continues to grow its audience in the digital media segment,” said Richard Suhl, Group Head of Ally Technology Finance. “This transaction demonstrates Ally’s commitment to expanding its presence in the media and technology sectors. We have a dedicated team with expertise in servicing digital and technology-based businesses, and this expertise was a key factor in securing this relationship with the team at SheKnows Media.”
Guggenheim acted as exclusive financial advisor to SheKnows Media in the financing.
* comScore, Media Metrix, Multiplatform Key Measures Report, December 2015, U.S.
About SheKnows Media
SheKnows Media is the number-one women’s lifestyle digital media company with 92.5 million unique visitors per month (comScore, Media Metrix, Multiplatform Key Measures Report, December 2015, U.S.) and 256 million social media fans and followers. The company operates a family of leading media properties that include SheKnows.com, BlogHer.com and StyleCaster.com. SheKnows Media also organizes the conference #BlogHer16: Experts Among Us, the largest annual celebration of women online content creators, social media influencers and brand executives, taking place in Los Angeles, August 4-6, 2016. With a mission of women inspiring women, SheKnows Media is revolutionizing the publishing industry by forging a new kind of model that seamlessly integrates users, editors and content creators onto a single platform designed to empower all women to discover, share and create. Whether it’s parenting or pop culture, fashion or food, DIY or décor, our award-winning editorial team, Experts, bloggers and social media influencers produce authentic and on-trend content every day. We dig deep to learn what makes our audience tick, revealing unexpected insights on women and digital media. Our robust, end-to-end suite of premium branded content and influencer marketing solutions generate more than 2 billion ad impressions per month (sources: DFP), allowing brands to distribute authentic content and integrated advertising at scale.
SheKnows Media is based in New York and Scottsdale, Ariz., with offices in Los Angeles, Chicago and Redwood City, Calif. We also operate internationally in Canada, Australia and the United Kingdom.
About Ally Corporate Finance
Ally Corporate Finance, a unit of Ally Bank, provides senior secured commercial-lending products to primarily U.S.-based middle market companies. Ally Corporate Finance lends to manufacturers, distributors, service companies and specialty sectors such as healthcare, media, technology, retail, and automotive. Loans generally range from $10 to $250 million and include enterprise value-based cash flow loans and asset-based loans to support refinancing, growth, acquisition and/or recapitalization. Learn more at www.allycf.com.