LADbible owner LBG Media has acquired Betches, a US-based media brand founded by women, for women in a deal that could ultimately be worth $54m.
LBG Media has a global social following of over 410 million and generates over 100 billion views annually through its household known brands such LADbible, UNILAD, GAMINGbible and SPORTbible. It also advises global brands on how to engage, understand and drive results across youth audiences.
The acquisition, LBG said in a statement to the LSE, is for “an initial cash consideration of $24 million, funded from existing cash resources, with up to a further $30 million cash consideration payable in instalments, subject to Betches achieving certain revenue and profitability targets to 2026.”
It strengthens LBG’s ambitious growth strategy through acceleration of its presence in the US, where it already has a team and over 100 million social followers and represents a huge opportunity in the world’s biggest advertising market.
Betches is a brand for women aged 18-34 globally, complementary to LADbible Group’s strength within Gen Z audiences. With an average monthly social reach of 250 million Betches has a following across a number of passion points including comedy, parenting, weddings, travel, and entertainment.
Betches was established in New York in 2011 by three female founders, who are remaining with the business post acquisition. Betches is a brand founded by women, for women, delivering a unique perspective through social, branded partnerships, live-events, merchandise, podcasts and newsletters.
Similarly, LBG Media was born in 2011 whilst its founders were at university. At its heart is the mission to uplift and inspire the world’s youth. It uses its immense global reach as a force for change across topics including mental health, the environment and violence against women.
For example, LADbible Group successfully lobbied the British government to change its laws to allow gay and bisexual men to be able to donate blood on the same terms as the heterosexual community and also created the Trash Isles campaign to empower young people to lobby the United Nations to acknowledge the plastic in our oceans as a country.
Solly Solomou, CEO at LBG said: “The joining of LBG and Betches is a step change for LBG Media and an incredibly exciting milestone in the group’s story, delivering on a key strategic priority of US expansion. The Betches story is similar to ours, founded during university and growing to a brand that is at the heart of youth culture – it is a perfect fit for the LBG Media family. We are all excited to work with the talented Betches team and get started on the opportunities ahead.”
Aleen Dreksler, CEO at Betches said “It’s a very exciting day in the history of Betches Media as we begin this next chapter with LBG Media, a highly influential media owner with massive global reach. Betches has been on the cutting edge of women’s media and disrupting internet culture in the US for over a decade, and this acquisition will enable us to achieve new heights in our global footprint, new original programming, brand partners, and much more. The synergy between LBG and Betches is unmatched, with our similar origin stories and passion for connecting with Millennial and Gen Z audiences, making this a natural next step for our company. We remain committed to our ambition to be the number one humour platform for women globally and are confident that the legacy we have built for Betches will continue to thrive with the newfound support of LBG and its leadership.”
