Digital media company Dotdash expands its brand portfolio with the acquisition of Liquor.com. The award-winning cocktail and beverage medium will continue un the direction of Kit Codic, CEO and founder of Liquor.com.
The amount of Dotdash’s investment in the acquisition of the media is unknown. But according to the director of Dotdash Neil Vogel, they invested around the same amount as for other sites such as Brides. The company acquired this media earlier this year. Brides belonged to the Condé Nast group.
With this acquisition Dotdash expects to receive more than 150 million dollars in revenue this year along with the 10 brands in its portfolio. Liquor.com is a highly recognized media in the cocktail niche and counts 840,000 followers in their social networks. And, according to the comscore measure, its value equals 3 million dollars.
The next step for Dotdash is to group Liquor.com together with another brand of its group, The Spruce, which also focuses on the theme of beverages. In addition, with MyDomaine, a brand of lifestile and entertainment. Vogel tells Axios.com, “It will probably be the biggest cocktail and alcohol place on the Internet. Which allows us to serve advertisers in a giant category“.
The editorial line will apparently continue under the same criteria, since Dotdash with the acquisition of Liquor.com will bring with it 10 editors of the media.
Don’t drink and drive. Enjoy responsibly.