The move supports Taylor Media’s efforts to continue to grow The Penny Hoarder, a blog in the personal finance space with a focus on weird ways to earn and save money, as well as several other soon-to-launch media properties. With its focus on providing relevant and actionable financial advice, The Penny Hoarder sees about 5.5 million unique visitors each month.
The deal is an acqui-hire, in which Taylor Media will bring in-house the founder of Socialexis, Alexis Grant, to oversee its growing editorial team as Executive Editor, as well as several of the company’s editors and writers, plus its systems around creating and publishing blog content. The addition of this editorial team will allow Taylor Media to continue to help readers put money in the bank by providing unique financial advice on The Penny Hoarder, and launch several other websites in the coming months, including a couponing site.
“This acquisition is part of our big-picture strategy of providing even more value to readers, so we can replicate the profit model of The Penny Hoarder with other sites,” said Kyle Taylor, CEO and Founder of Taylor Media. “Investing in high-quality content translates directly to more advertising dollars, because our sponsors and partners are eager to reach our target demographics, mainly money-conscious mothers and Millennials.”
Financial details of the deal were not disclosed, as both companies are privately-held by a sole owner. Socialexis has managed the majority of The Penny Hoarder content in a contract capacity for the last year.
Simultaneous to this acquisition, Taylor Media is opening an office in downtown St. Petersburg, Florida, where the company expects to have 10-15 employees by the end of the year. Open positions are listed on its website: https://taylormedia.bamboohr.com/jobs/. The company is bootstrapped and profitable.
“We’ve been impressed with how Kyle and his team have managed to turn a profit while offering valuable and relevant information, which can be a challenge for content startups,” said Alexis Grant, founder of Socialexis and now Executive Editor of Taylor Media. “Joining forces under one roof is a win-win-win: for our readers and for both companies.”
About Taylor Media
Based in St. Petersburg, Florida, Taylor Media was founded in 2010 by Kyle Taylor. Its primary web property, The Penny Hoarder, a blog about weird ways to earn and save money, sees about 5.5 million unique visitors a month. The company is expected to bring in about $10 million in revenue in 2015, primarily through affiliate and advertising partnerships with big-name brands. The Penny Hoarder has been featured on sites like Oprah.com, CNN, Men’s Health, Entrepreneur and Yahoo! Finance.
Company website: http://taylormediacorp.com/
The Penny Hoarder: http://thepennyhoarder.com
For contributors: http://www.thepennyhoarder.com/contributor-guidelines
Based in Washington, D.C., Socialexis is a boutique content marketing firm. Founded by former journalist Alexis Grant in 2010, the company offers an all-in-one blog-management solution for its clients, overseeing all elements of the process from content strategy to recruiting writers to editing, optimizing for search and publishing. Its recent clients include software company Brazen, D.C.-based startup Eone Timepieces, and writing community The Write Life.
Socialexis founder Alexis Grant, now Executive Editor of Taylor Media, blogged about the acquisition here.