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Vinit Bharara, founder/CEO of Some Spider Studios. Photo: Some Spider Studios

BDG Media (formerly Bustle Digital Group) is acquiring Some Spider Studios, the media company home to parenting brands Fatherly, Scary Mommy and The Dad, the company announced Wednesday.

Why it matters: The deal will give BDG Media the scale it needs before exploring an IPO later this year via a SPAC (special purpose acquisition company.)

Details: According to Axios reporting last year, Some Spider Studios brought in an estimated $35 million in revenue last year, including $5 million in profit.

  • Some Spider Studios' properties will be wrapped into a new parenting portfolio within BDG that will also include BDG's parenting site Romper. The unit will be led by Emma Rosenblum, chief content officer, Lifestyle & Parenting. The publications' brands will remain separate and distinct.
  • As Axios has previously reported, the roughly 120-person company is run by Vinit Bharara. Bharara launched Some Spider Studios in 2014 with $5 million of his own capital after selling diapers.com, the site he co-founded, to Amazon for more than $500 million in 2010.

Bharara tells Axios he plans to depart the company upon its acquisition. "I plan on starting something new and exciting that involves my best friend and former co-founder Marc Lore, and a bunch of other people. Stay Tuned!"

  • According to a report from the Wall Street Journal, which broke the news, the deal values Some Spider Studios at $150 million.

The big picture: This is the ninth acquisition for BDG Media. The company also owns Bustle, Elite Daily, Input, Inverse, Mic, Nylon, Romper, W and The Zoe Report.

Go deeper: Bustle Digital Group formally rebrands as BDG ahead of anticipated IPO

Go deeper

Updated Oct 21, 2021 - Technology

Trump says he plans to launch new social media network in 2022

Photo: Chris Delmas/AFP via Getty Images

Former President Trump on Wednesday announced plans to launch a social media network called "Truth Social," and said that it would go public via a SPAC.

Why it matters: Most ex-presidents are focused on their legacies, by creating presidential libraries or engaging in philanthropic endeavors. Trump, however, remains consumed by social media.

Updated 8 hours ago - World

UK government: Kremlin has plan "to install pro-Russian leadership" in Ukraine

British Foreign Secretary Elizabeth Truss. Photo: Gints Ivuskans / AFP via Getty Images

The United Kingdom's Foreign Secretary on Saturday night said the government has "information that indicates the Russian Government is looking to install a pro-Russian leader in Kyiv as it considers whether to invade and occupy Ukraine."

Driving the news: U.S. National Security Council spokeswoman Emily Horne called the intelligence "deeply concerning" in a statement to Axios. The Biden administration has said Russia is actively manufacturing a pretext for invasion and warned that Putin could use joint military exercises in Belarus as cover to invade from the north.

Updated 10 hours ago - Science

This powerful new accelerator looks for keys to the center of atoms

Illustration: Eniola Odetunde/Axios

Nuclear physicists trying to piece together how atoms are built are about to get a powerful new tool.

Why it matters: When the Facility for Rare Isotope Beams begins experiments later this spring, physicists from around the world will use the particle accelerator to better understand the inner workings of atoms that make up all the matter that can be seen in the universe.