RTL buys online fashion network StyleHaul for USD 107 mln

News Broadband Global 3 NOV 2014
RTL buys online fashion network StyleHaul for USD 107 mln

European broadcaster RTL Group has agreed to acquire a controlling stake in online fashion network StyleHaul for USD 107 million. The deal values StyleHaul at USD 151.4 million, said RTL, which added that performance incentives could increase the initial valuation. RTL had already invested USD 6 million in the fashion network in May 2013 and confirmed that a further USD 20 million will be invested to fund StyleHaul’s growth plan.

StyleHaul was founded in 2011 by Stephanie Horbaczewski, a former marketing director at Saks Fifth Avenue, and has more than 900 million video views per month, making it the leading multi-channel fashion network on YouTube. Revenues are expected to triple in 2014 compared to the previous year. RTL Group said the acquisition would enable it to accelerate its growing presence in the online video space and that it expected to more than double its total online video views to around 40 billion in 2014.

Categories:

Internet

Companies:

YouTube,  RTL Group

Regions:

Global

Tags:

Portals / social media, M&A buyouts & divestments

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