Maven Gives Update for Q2 Financial Data and Coalition Update
Maven continues progress toward completing the acquisitions of HubPages and Say Media, which Maven believes will result in a market-leading platform for independent publishers, with a combined reach of over 100 million monthly visitors. Maven has taken initial steps to integrate the coalition, including the launch of maven.io as a unified directory and the selling of the new inventory as a unified audience.
Maven completed its initial acquisition payment to HubPages, and continues progress toward the acquisition of Say Media, which is being re-architected as an asset purchase. The finalized agreement for Say Media is anticipated to be completed, and both the transactions are expected to close, in about the next month.
Maven’s veteran media leadership team expects to leverage the newly acquired and growing scale to grow revenue per user over time. “Our next step is to harvest,” said Maven CEO, James Heckman.
Assuming the completion of the acquisitions of HubPages and Say Media by Maven, the pro-forma financial performance of the three companies for the first half of 2018 would show continued revenue growth in Q2 2018 to an unaudited aggregated $5.1 million.
The three companies continue to successfully grow their publisher partnerships and traffic, such that the pro forma aggregated unique visits in Q2 2018 averaged 96.4 million monthly visitors.
The three companies have been engaged in detailed integration planning and joint go-to-market activities since April 2018. After completion of the acquisitions, Maven, Say Media and HubPages immediately will begin operating as a single business, with consolidated financials, and a single team go-to-market effort to leverage the combined scale to drive revenue growth. Maven anticipates closing both acquisitions in the third quarter of 2018, and expects to be reporting on a consolidated basis for the month of September 2018.