Demand Media® (NYSE: DMD) today announced the acquisition of Creativebug, the go-to source for high-quality, online video art and craft instruction. Creativebug’s network of exceptional designers and library of educational videos complements the crafts-related content on Demand Media’s eHow web property. The acquisition will accelerate Demand Media’s expansion into e-Learning.
“We’re seeing a ‘disruption and reinvention’ in the way that people are learning new skills. They are increasingly going online to learn both practical and creative skills, and we believe this convergence has huge potential,” said Joanne Bradford, Chief Marketing and Revenue Officer, Demand Media. “Instead of browsing at a bookstore or attending a class at the local community college, people are going online to learn from a world-renowned expert at a time that fits their schedule, accessing online videos from their smartphone, tablet or desktop.”
“Creativebug masterfully leveraged the e-learning and craft trend in the emerging ‘Create it Yourself’ movement to become a leader in this market,” added Dan Brian, Executive Vice President of Media. “We’ve seen interest in craft-related content on eHow grow more than 20% on average every year over the last three years. We’re sprinting to keep up with demand, adding 29% more video content over the same period. Millions of people who visit eHow every month will be able to access Creativebug’s video workshops led by the top artists and designers in the world. We’re thrilled to add the passionate Creativebug team to the Demand Media family.”
“Creativebug represents a community of true believers. From our employees to our customers and instructors, everyone at Creativebug has experienced firsthand the obsession and addiction of being an artist/designer/crafter,” said Jeanne Lewis, Founder and CEO of Creativebug. “We take pride in doing everything thoughtfully, from filming high quality videos that illustrate the exquisite detail of hand-stitching to hand-delivering donations to our favorite local causes. We decided to join Demand Media because they care deeply about content and communities, and we are glad that we can offer our instructors a broader platform to reach more people.”
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts