Sugar Inc. will be acquiring Circle of Moms, a social network for moms and moms-to-be.
Circle of Moms originally launched on Facebook in 2008 and now serves a community of 6 million moms.
Upon the close of the acquisition, the social network will become a wholly owned subsidiary of Sugar Inc. and will continue to operate independently.
“Acquiring Circle of Moms enables us to extend the reach of our existing mom audience, offer more valuable content, and strengthen our social community” said Brian Sugar, co-founder and CEO of Sugar Inc. “Circle of Moms has successfully established itself as a leading brand within this highly-coveted demographic. We’re thrilled to welcome the Circle of Moms team to Sugar and partner together in the next phase of our growth.”
“Today’s announcement begins a new chapter for Circle of Moms and its thriving community,” said Ephraim Luft, co-founder and CEO of Circle of Moms. “By combining forces with Sugar, we join another new media pioneer and a leadership team that closely shares our vision for delivering smart community-sourced content and a commitment to enriching the lives of moms.”
Luft will remain in his current role, reporting to Brian Sugar. Other key Circle of Moms editorial and PR staff who will be retained include: Lisa Brand, managing editor, content and community, Julie Talhamn, senior marketing and public relations manager, and Barbara Rockwell, editor.
Financial terms of the transaction were not disclosed.