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.