It's been tremendously rewarding to build Answerology as a community where users can tap into the wisdom and objective advice of thousands of people from around the globe. I am excited to be bringing my knowledge of community and Q&A technology to Hearst's diverse communities of consumers looking for answers and advice on topics that matter to them.
New York, NY (PRWEB) March 27, 2008
DeSilva + Phillips, media investment bankers, announces the sale of its client Answerology, a question and answer platform focused on content and community, to Hearst Magazines. Answerology (http://www.answerology.com) will be managed by Hearst Magazines Digital Media.
The founder of Answerology, Matthew Milner, will become a full-time employee of Hearst Magazines and will serve as VP, community and social media, overseeing community for the company's digital media unit. He will report to Chris Johnson, VP, content and business development, Hearst Magazines Digital Media.
Launched officially in 2005, Answerology is operated in New York City with an overseas technology team. The site and core technology enable members to pose questions to a targeted community around relationship-related topics such as dating, family, career, and marriage. Community members can ask a question anonymously and select the demographic they'd like to get responses from (e.g. 22-25 year old Male Intellectuals from Boston). The premise of the site is that the most valuable answers for "life questions" come from the community, more specifically, people with relevant background and experience. Questions are posted on the site and emailed to registered users matching the target demographic. All answers are rated and frequent participants with high rankings are highlighted in the community.
With this acquisition, Hearst will substantially advance its online community profiles and help bridge the gap between editorial expertise and community participation on its sites. Answerology's Q&A technology will be integrated expeditiously into Hearst's portfolio of web sites.
Jay MacDonald, the DeSilva + Phillips partner in charge of the transaction, said, "Hearst Magazine's acquisition of our client shows the value that major media companies now see in companies that use intelligence, imagination and enterprise in building real, large-scale value-creating communities in the digital space. Matt Milner has been a leader in taking a creative concept - based on a book he wrote - and constructing a working business around it, taking full advantage of the technology and the spirit of the online world."
Matthew Milner, Answerology's founder, said, "It's been tremendously rewarding to build Answerology as a community where users can tap into the wisdom and objective advice of thousands of people from around the globe. I am excited to be bringing my knowledge of community and Q&A technology to Hearst's diverse communities of consumers looking for answers and advice on topics that matter to them."
About DeSilva + Phillips, media investment bankers
DeSilva + Phillips, media investment bankers, (http://www.mediabankers.com), specializing in the media and digital media industries, has completed nearly 200 transactions with a total value of over $8 billion. Our Digital Media & Technology Group covers the M&A and corporate finance marketplace for electronic content in its many forms, including web-based publications, specialized search engines, online video, advertising, lead generation, e-commerce, integrated marketing, and business intelligence services. Recent deals include the sale of Falk AG to DoubleClick, FranchiseGator to aQuantive, TDA Group to CyberMedia (India), Tarot.com to NameMedia and Mediabistro to Jupitermedia. Contact Jay MacDonald (jay(at)mediabankers.com), Jeff Dearth (jeff(at)mediabankers.com) or Ken Sonenclar (sonenclar(at)mediabankers.com) for more information.
Based in New York City, Answerology was founded by Matthew Milner, a banker and author, initially as a promotional effort for his romantic comedy novel, Guy Critical. As the site built an audience, Matthew invested in developing the platform and renamed it Answerology. With its proprietary Q&A platform, the Company now aims to help people improve all their relationships - with their romantic partners, and with their family, friends and colleagues. It's all about having a better life through shared experience.
About Hearst Magazines Digital Media
Launched in March 2006, Hearst Magazines Digital Media, a unit of Hearst Magazines, is dedicated to creating and implementing the digital online and mobile strategy for Hearst's magazine brands and other sites which serve the company's consumers and audience. The unit has launched or re-launched 18 web sites and nine mobile sites for brands such as Cosmopolitan, Esquire, Good Housekeeping, Marie Claire and Seventeen, as well as non-magazine brand sites such as TheDailyGreen.com, MisQuinceMag.com and MyPromStyle.com. During this time, Hearst Digital has also acquired the eCrush Network (eCRUSH.com, eSPIN.com), Kaboodle.com and RealAge.com to round out its growing portfolio of interests for teens and women.