Strategic Investment Expands TIME’s Storytelling Platforms
NEW YORK, Aug. 30, 2022 /PRNewswire/ — Today, the global media company TIME announced the acquisition of Brandcast, the leading no-code platform for creating and managing enterprise-grade websites.
Through this acquisition, Brandcast’s technology, which enables partners to quickly and easily turn content into dynamic, customized microsites, will become TIME Sites. TIME Sites is the newest offering in TIME’s rapidly growing, 360° suite of products and platforms for storytelling, including the Emmy Award®-winning film and television division TIME Studios, a significantly expanded live events business, an industry-leading web3 division, an award-winning branded content studio, TIME’s iconic magazine and digital platforms reaching more than 100 million people around the world, and more.
“TIME is the world’s most trusted storyteller, and we are excited to work with Brandcast’s world-class team to deliver innovative digital experiences that tell our customers’ stories at quality, speed and scale,” said TIME editor in chief and CEO Edward Felsenthal.
“Becoming part of TIME will further enable brands to distribute stunning digital experiences and stories,” said Brandcast CEO Ashok Santhanam. “Our team is energized and committed to helping our customers grow, while using Brandcast’s technology to allow TIME’s customers to succeed in new ways.”
TIME Sites will provide new opportunities for existing Brandcast clients 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 TIME’s owners in 2018. Since becoming an independent company, TIME has vastly expanded its product offerings, while prioritizing digital transformation and high-impact content across all of its platforms, which has resulted in nearly 250,000 digital subscribers to TIME’s journalism, as well as a sustained period of record growth for TIME, including 30% year-over-year revenue increases in 2021 and 2022–the highest in more than a decade.
“TIME has been a wonderful partner in working with us to tell our story across platforms,” said Linda Boff, CMO of GE. “We are excited to see how their growth will extend opportunities to create impactful digital content together moving forward.”
“We are always looking for innovative ways to tell the Rubicon story, and TIME has been a fantastic partner to us,” said Nate Morris, Chairman and CEO of Rubicon. “We are thrilled 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 enterprise websites. Funded by industry-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 for every stage of the customer journey. Brandcast’s website building platform enables creative freedom and high-velocity marketing for the world’s leading brands.
To learn more about TIME Sites and its customer capabilities, visit timesites.com.
Kristin Matzen, TIME