According to a Press Release out today, Demand Media® (DMD) announced the acquisition of Creativebug, “the go-to source for high-quality, online video art and craft instruction”.
Terms of the deal were not released.
“Creativebug’s network of exceptional designers and library of educational videos complements the crafts-related content on Demand Media’s eHow web property.”
“The acquisition will accelerate Demand Media’s expansion into e-Learning.”
“We’re seeing a ‘disruption and reinvention’ in the way that people are learning new skills. They are increasingly going online to learn both practical and creative skills, and we believe this convergence has huge potential,” said Joanne Bradford, Chief Marketing and Revenue Officer, Demand Media.
“Instead of browsing at a bookstore or attending a class at the local community college, people are going online to learn from a world-renowned expert at a time that fits their schedule, accessing online videos from their smartphone, tablet or desktop.”
“Creativebug masterfully leveraged the e-learning and craft trend in the emerging ‘Create it Yourself’ movement to become a leader in this market,” added Dan Brian, Executive Vice President of Media.
“We’ve seen interest in craft-related content on eHow grow more than 20% on average every year over the last three years. We’re sprinting to keep up with demand, adding 29% more video content over the same period. Millions of people who visit eHow every month will be able to access Creativebug’s video workshops led by the top artists and designers in the world. We’re thrilled to add the passionate Creativebug team to the Demand Media family.”
Based in San Francisco, Creativebug is the go-to source for online video art and craft workshops featuring some of the most well-respected designers in the craft word. Users can pay per class or get a subscription for unlimited classes to learn the art of sewing, knitting, jewelry-making, printmaking and more.”
…
