FOR IMMEDIATE RELEASE
Indian Land, SC, and Seattle, WA, October 20, 2016 – Red Ventures, a leading digital consumer choice platform, announced the acquisition of Soda LLC, a Seattle-based family of online brands including Reviews.com, Freshome, and The Simple Dollar. The transaction closed Tuesday for an undisclosed amount.
“We’re thrilled to add Soda’s people, brands, and expertise to our portfolio,” said Ric Elias, CEO of Red Ventures. “Their talented team has built an impressive collection of digital assets that will help us reach consumers more effectively in the non-brand space and continue to expand our quickly-growing online footprint.”
Based in Indian Land, S.C., just south of Charlotte, N.C., Red Ventures bridges the digital divide for major brands through a combination of data science, proprietary technology, and a highly optimized sales force. Red Ventures has strategic partnerships with companies across a variety of high-growth industries and has grown on average 30% year over year for the past 5 years.
“Red Ventures is the right partner for Soda moving forward,” said Corry Cummings, Co-Founder and CEO of Soda. “We both share a passion for connecting customers to great products and services; their unique capabilities and wealth of experience will help us better serve our users and accelerate our growth.”
This acquisition is part of Red Ventures’ continued expansion into new industries through a broad set of new digital solutions and assets. Over the last 18 months, Red Ventures has announced investments in CourseHourse, Treehouse and Ampush in addition to the acquisition of Imagitas, an on and offline mover services company.
Soda was advised by Petsky Prunier Securities in this transaction.
About Red Ventures
Founded in 2000, Red Ventures helps the world’s biggest brands make the digital leap required to compete – enabling scale, unlocking opportunity, and defending against disruption. RV employs 3,000 people across the Carolinas, Brazil and Boston. For more information, visit www.redventures.com
Soda was founded in 2012 and operates several websites including Thesimpledollar.com, www.reviews.com, and freshome.com and specializes in using online assets for lead generation. Soda employs 30 people in the Seattle, Washington area. For more information, visit www.soda.com