Demand Media acquires CoveritLive
Content and social media company Demand Media, Inc. has acquired CoveritLive, a provider of real-time commentary, instant reader polling and question and answer capabilities to companies like ESPN, Ford, News Corp. and BBC. Terms of agreement of the acquisition were not disclosed.
Demand Media has a minority interest in CoveritLive since 2009. Today’s announcement of the acquisition will position CoveritLive as one of Demand Media’s portfolio of social solutions, along with Pluck.
Events hosted on CoveritLive attracts an audience of over 60 million people every month, 60% of which comes from outside the United States. Just recently, the company powered conversations during the Academy Awards for People, TMZ, Entertainment Weekly, Variety and the Daily Beast.
CoveritLive’s reach, coupled with the more than 100 million monthly visitors from Demand Media’s vertical web properties, is expected to strengthen the company’s original content offerings.