Parent media brands join forces
CertifiKID, a Potomac, Maryland-based site for children's and family activities, has acquired Red Bank, New Jersey-based digital media brand Hulafrog, CEO Jamie Ratner tells Axios.
Why it matters: Niche media brands like those serving parents have continued to compete through scale by acquisition.
Details: CertifiKID will be adding 10 staffers to its team of 27, which includes a mix of employees and contractors. Ratner says almost all Hulafrog workers are staying on and that the cofounders will serve as advisors this year.
- Ratner declined to disclose other terms of the deal.
- The company's 2022 numbers aren't yet final, but Ratner says they estimate $6 million in gross sales and $5 million in revenue.
Catch up quick: Ratner launched CertifiKID in 2010 with $5,000 of her and her husband's savings. The business became profitable within three months of its launch and has stayed that way, Ratner says.
- So far, it's only other funding has come from Kevin O'Leary, who offered $600,000 in exchange for 19% equity when CertifiKID appeared on "Shark Tank" in 2019.
- CertifiKID has made other acquisitions, including LA-based FamilyFinds in 2013 and New York-based Macaroni Kid in 2020.
What's next: Ratner says the company has no current plans to raise additional funding or for more acquisitions as it focuses on integrating and growing its brands.