Red Ventures
FormerlyRed F (1999-2003)
TypePrivate
Industry
Founded2000; 22 years ago (2000)
HeadquartersIndian Land, South Carolina, U.S.
Key people
Ric Elias (CEO)
ServicesMarketing, advertising
Divisions
Subsidiaries
Websitewww.redventures.com

Red Ventures is an American media company and is the owner of Giant Bomb, Lonely Planet, CNET, ZDNet, TV Guide, Metacritic, GameSpot, GameFAQs, The Points Guy, and Chowhound since October 30, 2020; as well as Healthline Media since 2019 and Bankrate since 2017.[1]

Red Ventures focuses on what it calls "integrated marketplaces", namely sites that dispense news, advice, and reviews.[2]

Red Ventures’ corporate headquarters is located in Indian Land, South Carolina, a suburb of Charlotte, North Carolina.[3]

History

Red Ventures was formed on September 29, 1999,[4] in Fort Mill, South Carolina, and before its 2020 acquisitions, has grown into an international presence with more than 100 brands, 3,000 employees, and operations in the United Kingdom and Brazil.[5]

In 2015, the company got a $250 million investment from Silver Lake.[6] That same year, it doubled the size of its headquarters[7] and bought postal services company Imagitas from Pitney Bowes.[8]

Red Ventures acquired Bankrate Inc. for $1.24 billion in cash in a deal announced July 3, 2017.[9][10]

On September 14, 2020, Red Ventures agreed to purchase the CNET Media Group from ViacomCBS for $500 million.[11] On December 1, 2020, Red Ventures bought Lonely Planet from Tennessee-based NC2 Media.[12]

Timeline

References

  1. ^ Hudson, Caroline. "Red Ventures adding jobs as it integrates ViacomCBS' CNET Media Group". Charlotte Business Journal. Retrieved November 13, 2020.
  2. ^ Goldberg, Steve (July 2019). "Why This $2 Billion Business Swears By the 'Pencil Rule'". Inc. Retrieved December 6, 2020.
  3. ^ "Red Ventures CEO: We're going to keep growing". charlotteobserver. Retrieved April 9, 2018.
  4. ^ "Red Ventures LLC". Bloomberg. Retrieved December 6, 2020.
  5. ^ Sakoui, Anousha (September 14, 2020). "ViacomCBS sells CNET Media for less than half what CBS paid in 2008". The Los Angeles Times. Retrieved December 6, 2020.
  6. ^ De La Merced, Michael (January 7, 2015). "Silver Lake Makes Big Bet on Red Ventures, a Digital Marketing Company". The New York Times. Retrieved December 6, 2020.
  7. ^ Portillo, Ely (November 4, 2015). "Red Ventures breaks ground on project to double size of its headquarters". Charlotte Observer. Retrieved December 6, 2020.
  8. ^ Elkins, Ken (May 28, 2015). "Red Ventures buying company with important postal contract". Charlotte Business Journal. Retrieved December 6, 2020.
  9. ^ Stratton, Ali (July 3, 2017). "Personal Finance Website Bankrate to be Acquired by Marketing Firm Red Ventures". The Wall Street Journal. Retrieved December 6, 2020.
  10. ^ Bond, Shannon; Samson, Adam (July 3, 2020). "Bankrate website to be bought by Red Ventures for $1.24bn". Financial Times. Retrieved December 6, 2020.
  11. ^ Mullin, Benjamin. "ViacomCBS to Sell CNET to Red Ventures for $500 Million". The Wall Street Journal. Retrieved December 6, 2020.
  12. ^ Muccigrosso, Catherine (December 1, 2020). "Red Ventures gobbles up another familiar brand name. This time it's travel related". The Charlotte Observer. Retrieved December 6, 2020.
  13. ^ "Staying in Red brings new life", Charlotte Business Journal, November 2, 2007
  14. ^ Leadership: Ric Elias, Red Ventures Website, retrieved July 30, 2008.
  15. ^ “Red Ventures Acquires Lead Generation Firm Modern Consumer”, Direct Magazine, June 23, 2008
  16. ^ Ventures, Red. "Red Ventures Announces Growth Capital Investment by General Atlantic". Prnewswire.com.
  17. ^ "General Atlantic Team - Anton J. Levy". General Atlantic website. Retrieved November 4, 2015.
  18. ^ "Press Release". General Atlantic. Retrieved January 15, 2016.
  19. ^ "Red Ventures buys HomeInsurance.com". Bizjournals.com. Retrieved November 21, 2021.
  20. ^ Merced, Michael J. de la. "Silver Lake Makes Big Bet on Red Ventures, a Digital Marketing Company". DealBook. Retrieved March 6, 2017.
  21. ^ a b c d "We Are Red Ventures". Redventures.com. Retrieved March 6, 2017.
  22. ^ "Red Ventures Announces Closing of Acquisition of Bankrate, Inc". Redventures.com. Retrieved November 8, 2017.
  23. ^ "Red Ventures Acquires HigherEducation.com". Redventures.com. Retrieved May 13, 2019.
  24. ^ "Red Ventures Acquires Healthline Media". Redventures.com. Retrieved August 7, 2019.
  25. ^ Spangler, Todd. "ViacomCBS Reaches Deal to Sell CNET for $500 Million to Marketing Firm Red Ventures". Variety. Retrieved November 13, 2020.
  26. ^ "Red Ventures Acquires Lonely Planet". Retrieved December 1, 2020.
  27. ^ Burke-Kennedy, Eoin. "Lonely Planet sold to US digital marketing group for undisclosed sum". Irish Times. Retrieved December 6, 2020.
  28. ^ "RV Health, A Red Ventures Business, Acquires Healthgrades.com from Mercury Healthcare | Red Ventures". Redventures.com. Retrieved September 2, 2021.