Description
Red Ventures is an American media company, which owns and operates brands such as Lonely Planet, CNET, ZDNet, The Points Guy, Healthline and Bankrate. Red Ventures focuses on sites that dispense news, advice, and reviews. The company's corporate headquarters is located in Indian Land, South Carolina, a suburb of Charlotte, North Carolina.
History
Red Ventures was formed on September 29, 1999, in Fort Mill, South Carolina by Ric Elias and Dan Feldstein. Before its 2020 acquisitions, the company has grown into an international presence with more than 100 brands, 3,000 employees, and operations in the United Kingdom and Brazil.
In 2015, the company got a $250 million investment from Silver Lake. That same year, it doubled the size of its headquarters and bought postal services company Imagitas from Pitney Bowes.
Red Ventures acquired Bankrate Inc. for $1.24 billion in cash in a deal announced July 3, 2017.
On September 14, 2020, Red Ventures agreed to purchase the CNET Media Group from ViacomCBS for $500 million. On December 1, 2020, Red Ventures bought Lonely Planet from Tennessee-based NC2 Media.
In 2021, the company had 4,500 employees and 751 million readers per month.
