Sun Seven Stars has agreed to acquire a majority stake in Grapevine, a social media influencer platform. No financial terms were disclosed. Grapevine’s backers included Boston Seed Capital and MassVentures.
BOSTON, Feb. 9, 2017 /PRNewswire/ — Grapevine, the world’s leading end-to-end social media influencer marketing platform with more than 90,000 content creators generating 5.7 billion views per month, today announced an agreement under which global media group Sun Seven Stars will purchase a majority stake in the company. The deal is expected to close later this year and will aim to accelerate Grapevine’s product development and expansion to new markets.
“Our vision is to become the global leader in content driven social commerce. When we met with Bruno and his leadership team it was very clear that they were the right partner to help us accelerate our product development goals and grow the business here in the U.S. and internationally,” said Grant Deken, Co-Founder and CEO.
Online video consumption is expected to grow 33% annually through 2019. As online video’s popularity increases, the demand to work with video publishers on YouTube, Instagram, and other social platforms is growing significantly. The partnership with Sun Seven Stars will focus on accelerating Grapevine’s ability to help creators monetize their video content and enable brands and agencies to scale their branded content programs and content management.
“Social content creation is a global phenomenon that has changed the way consumers discover and purchase products,” said Bruno Wu. “The Grapevine platform enables streamlined social content development and distribution for our network of partners. We are excited to have them as a partner and help them build a media company with a global footprint.”
Dave Balter, a Venture Partner at Boston Seed Capital, who led Grapevine’s financings and serves as chairman of Grapevine’s board, noted, “Grant and his team have proven that influencer marketing is a data-driven, scalable channel that is solidifying a permanent place in today’s marketing stack. We are excited to see them grow and thrive in this new partnership with Bruno Wu and Sun Seven Stars.”
Grapevine is an end-to-end influencer marketing platform that helps advertisers and social content creators work together to produce promotional content at scale. The Grapevine network includes more than 90,000 creators who generate more than 5.7 billion monthly views. Advertisers leverage Grapevine’s work flow management software and proprietary tracking and analytics to measure direct response and conversion rates from promotional content on YouTube and Instagram. The company has raised more than $2.4 million in venture capital from Boston Seed Capital, MassVentures and notable Boston angels.
About Bruno Wu and Sun Seven Stars
Bruno Wu is now the Founder, Co-Chairman and CEO of Sun Seven Stars Media Group Limited, one of the biggest private media and investment conglomerates in China. Its predecessor is Sun Media Group Holdings Limited, which was established by Bruno Wu and Yang Lan in 1999 and became one of the leading entertainment, media and investment companies in Asia after 10 years of growth. Sun Seven Stars Media Group Limited now has 6 business units including Sun Media Group, Sun Seven Stars Culture Group, WeCast Network Group, RedRock Capital Group, Sun News Group, and Sun Intelligent Media Group. It has a presence in over ten major cities in the world including: Beijing, Shanghai, Tianjin, Hong Kong, New York, LA, Paris, London, Toronto, Seoul and Scandinavian countries.
Learn more about Grapevine at www.grapevinelogic.com