Time Inc. has acquired Jane Pratt's xoJane and xoVain websites in a bid to build up its portfolio of brands that target millennials. Adweek first reported that the acquisition was imminent on Oct. 16.
The deal is the latest in a string of big moves from the New York magazine publisher this month. On Oct. 18, Time Inc. bought HelloGiggles, a lifestyle site founded by actress Zooey Deschanel in 2011. The Wall Street Journal pegged the deal at $20 million. The next day, Time Inc. also announced it was shutting down the women's shopping magazine AllYou.
With xoJane and xoVain, Time Inc. continues to bolster its beauty, fashion and digital-only content. The publisher also runs the home-focused website The Snug, beauty-oriented Mimi and The Drive, an automotive site for guys under 35.
Pratt's editorial team will report to Deborah Marquardt, vp and general manager of Time Inc.'s Style Network.
"We are delighted to have the opportunity to serve this modern, inclusive community of women, increasing our reach in this important segment and providing our advertising partners with more access to targeted, engaged audiences," Time Inc.'s evp Evelyn Webster said in a statement.
According to comScore, xoJane had 2.5 million unique visitors this September, up from 1.1 million in September 2014. Sister site xoVain clocked in 958,000 viewers in September. And while it launched in March 2013, it did not meet comScore's minimum traffic numbers to be tracked year over year.
Pratt—the sites' founder and editor-in-chief—has been looking for a buyer for several months, since Say Media sold off its editorial properties in February to focus on selling advertising-technology software and online publishing platforms.