Jukin Media, a longtime supplier of user-generated videos like the widely circulated clip “Pizza Rat,” has been acquired by Trusted Media Brands, whose media portfolio includes Reader’s Digest.Terms were not disclosed, but Forbes reported that the deal values Jukin at more than $100 million.
Because there is little duplication between the two companies, plans call for Jukin’s worldwide staff of nearly 300 to be integrated with Trusted Media’s existing workforce of 400.Founded in 2009, Jukin had not raised a large amount of capital, choosing instead to fund its expansion more organically.
Its $6 million in funding came from investors including Samsung and Peter Guber, the onetime Hollywood studio chief who heads Mandalay Entertainment.
Read more on deadline.com
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