Billboard-Hollywood Reporter Group Acquires News App Zig
Former Vanity Fair editor Graydon Carter and NBCUniversal vice chairman Ron Meyer were among the app's investors.
Billboard-Hollywood Reporter Media Group has acquired startup news app Zig.
The Valence Media-owned company invested in Zig in October 2018, joining an existing investor roster that included former Vanity Fair editor Graydon Carter, NBCUniversal vice chairman Ron Meyer and Quincy Jones.
"The team at Zig understands and shares our passion for putting artists first and we’re excited to bring this innovative technology in-house to contribute to our existing and future product strategy," said Deanna Brown, president of Billboard-Hollywood Reporter Media Group. Terms of the deal were not disclosed.
Zig launched in April 2018 as a personalized news curation tool. Its mobile media technology offers a scrolling feed of photos that link out to articles from third-party news sites and aims to optimize content consumption while driving traffic to publisher and social media partners.
The company was co-founded by CEO Joshua James, president Adam Platzner and CTO John Tornow. Four employees are joining Billboard-Hollywood Reporter Media Group as part of the acquisition, including James and Tornow, who will serve as senior executives. Platzner will stay on as a consultant during the transition.
"I look forward to working with Deanna and the team as we continue to transform the way information is delivered to consumers through our bespoke technology,”said James, with Platzner adding, "Zig is combining with a company that has already been an incredible strategic partner as we've worked to grow the business." We are indebted to them and to all our investors, including Graydon Carter, Ron Meyer, Quincy Jones and Michael Rapino at Live Nation, who have supported us on this journey."
Zig will now be part of a news group that includes brands The Hollywood Reporter, Billboard, Spin, Vibe and Stereogum.