Strategic investment expands TIME’s storytelling platforms
NEW YORK, August 30, 2022 /PRNewswire/ — Today, global media company TIME announced the acquisition of Brandcast, the leading no-code platform for building and managing corporate websites.
With this acquisition, Brandcast’s technology, which enables partners to quickly and easily transform content into dynamic and personalized microsites, will become TIME Sites. TIME Sites is the latest offering in TIME’s rapidly growing suite of 360° products and platforms for storytelling, including the Emmy Award®-winning film and television division TIME Studios, a business greatly expanded live events, an industry-leading Web3 division, an award-winning branded content studio, TIME’s iconic magazine and digital platforms reaching over 100 million people around the world, and more.
“TIME is the world’s most trusted storyteller, and we’re excited to work with the world-class team at Brandcast to deliver innovative digital experiences that tell our customers’ stories with quality, speed and scale,” said the editor and CEO of TIME. Edward Felsenthal.
“Joining TIME will empower brands to deliver stunning digital experiences and stories,” said Brandcast’s CEO. Ashok Santhanam. “Our team is dynamic and committed to helping our customers grow, while using Brandcast’s technology to enable TIME customers to succeed in new ways.”
TIME Sites will provide new opportunities for existing Brandcast customers and TIME partners. Additionally, TIME Sites will develop enterprise solutions for TIME’s web3 division to support brands looking to enter the web3 space.
This is TIME’s first acquisition since Marc and Lynne Benioff became the owners of TIME in 2018. Since becoming an independent company, TIME has significantly expanded its product offerings, while prioritizing digital transformation and high-impact content across all of its platforms, which led to nearly 250,000 digital subscribers to TIME journalism, as well as a sustained period of record growth for TIME, including a 30% year-over-year revenue increase in 2021 and 2022, the highest since more than a decade.
“TIME has been a great partner working with us to tell our story across all platforms,” said Linda Boff, CMO of GE. “We’re excited to see how their growth will expand the opportunities to create impactful digital content together in the future.”
“We’re always looking for innovative ways to tell the Rubicon story, and TIME has been a fantastic partner for us,” said Nate Morris, Chairman and CEO of Rubicon. “We are excited to have even more opportunities to work with the TIME team in the future as Brandcast becomes TIME Sites.”
Brandcast is the first no-code digital platform for business websites. Funded by leading technology investors, including Marc Benioff, Shasta Ventures, TPG Growth and Buchanan Investments, Brandcast is designed to transform the way global brands create personalized digital experiences at every stage of the customer journey. Brandcast’s website building platform enables creative freedom and high-speed marketing for the world’s biggest brands.
To learn more about TIME Sites and its client capabilities, visit timesites.com.