A Multimedia Business Girlboss Is Acquired By Attention Capital

A Multimedia Business Girlboss Is Acquired By Attention Capital

The female-focused multimedia business, Girlboss, is being acquired by a new company, Attention Capital, which purchases, develops, and clambers up media brands. Girlboss was established by Sophia Amoruso and will be joining the Attention Capital as a founder partner. The deal terms are yet not disclosed but the company has stated that 100% of business is being acquired by Attention Capital. In 2017, $3.1 Million was raised by Girlboss from Lightspeed Venture Partners in venture capital funding

This latest release signifies the second exit by Amoruso, although her Nasty Gal transaction was more of a salvation feat. Nasty Gal saw a developing phase from a small eBay shop to a fashion giant with a pint when it witnessed over $300 Million in sales. Eventually, the firm also witnessed a decline and in 2016, a Chapter 11 bankruptcy protection was filed after obtaining $65 Million during its functioning of 10 Years.

Nasty Gal was procured for $20 Million in 2017. Amoruso, in the interim, was directing a new and analogous venture-supported business, which took life from #GIRLBOSS, her book’s success, which the firm stated has sold over 500,000 copies since its release in 2014. In a statement, Amoruso stated, “Girlboss is developed on the notion of powering expansion through the community.”

Managing Partner and Co-founder of Attention Capital, Ashlyn Gentry, said, “Girlboss is a globally recognized brand that is reclassifying what it signifies to be entrepreneurial—it is not merely establishing your own business, it is about taking risks, making a career switch, seeking for that next role, and taking measures into the unfamiliar.”

Likewise, a majority share in Smartly.io Solutions Oy, a social video advertising technology provider, will be bought by Providence Equity Partners LLC as the private-equity company bets that more marketing dollars will be spent by the brands on Facebook in addition to other social platforms. €200 million will be invested by Providence in Smartly.io located in Helsinki, valuing the firm at €300 Million, as per the resources.

About Thomas Parrish

The Business domain is one of the commonly loved and debated domains that many love as the world is getting competitive. Thus, it is that interest that urged Thomas Parrish to lead the Business domain on FNF News Blog portal. He has been working with FNF News Blog portal from the past 5 years. His knowledge in the field of business and finance is amazing as no query is left answered. Thomas’s articles are praised by many owing to the use of magnificent utterance and flawlessness in the statements made. Thomas has completed his MBA in Finance and thus, has vast knowledge about the business and finance sphere. Thomas has completed a few certified strategic texts composing courses as well.

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