Hachette Filipacchi said the move is part of a plan to create global advertising and marketing platforms for its numerous publications. Financial specifics were not disclosed.
“Hachette Filipacchi Medias’ significant investment in Phase2Media represents a major step forward in establishing our publications as the ultimate resources on the Internet,” said Jack Kliger, president and chief executive officer of Hachette Filipacchi Magazines, the American subsidiary of Hachette Filipacchi Medias.
“This alliance leverages the company’s global resources and the power of our international brands with Phase2Media’s strengths in the online advertising industry.”
“This investment by Hachette Filipacchi Medias completes the first round of funding for Phase2Media and adds significant fuel to our expansion plans,” said Richy Glassberg, chairman and chief executive officer of Phase2.
Hachette Filipacchi Medias’ investment further solidifies a partnership that was formed when the Phase2 was retained to serve as the exclusive advertising sales representative for the company’s ELLE.com, an online fashion, beauty and lifestyle network.
Hachette Filipacchi Medias publishes 203 magazines worldwide, including 155 titles outside France, in 32 countries.
Launched in April 1999, Phase2Media represents more than 50 branded sites to advertisers, offering “networks” by audience or content affinity.
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