Terms of the deal weren’t disclosed. BDG founder and CEO Bryan Goldberg is well-acquainted with Inverse, which was founded in 2015 by CEO Dave Nemetz — who previously co-founded Bleacher Report with Goldberg.
Inverse is BDG’s eighth acquisition since its founding, most recently having purchased Joshua Topolsky’s The Outline and Nylon earlier this year. Goldberg’s thesis is that he can roll up distressed properties (e.g., Mic and the dormant assets of Gawker) along with small-scale outfits to achieve economies of scale. BDG’s other brands include Bustle, Elite Daily, Flavorpill, Romper and the Zoe Report.
As part of the deal, Nemetz is joining BDG and will serve as executive VP of Inverse, working alongside Topolsky on BDG’s suite of culture and innovation brands, which includes The Outline and future projects in the technology category.
According to Inverse, it reaches over 10 million unique users per month. Investors in the New York-based company were Crosslink Capital, which led a $6 million Series A funding round in 2016, and Bertelsmann Digital Media Investments (BDMI).
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“Bringing Inverse into the BDG portfolio is a natural step for us as we expand into technology and culture coverage,” Topolsky said in a statement. “We’re excited to build on Inverse’s scale and audience, and introduce even more people to new and fascinating voices, stories, and experiences.”
Added Nemetz, “Inverse exists to spark curiosity about the world around us, and we are thrilled to continue that mission with BDG. With the shared resources and larger platform that BDG offers, we can amplify our coverage of the ascendant thinkers and doers who are endeavoring to build a better future.”