Global media company TIME has bought no-code website builder platform Brandcast, with the aim of developing enterprise solutions for its web3 division.
The landmark deal is TIME's first acquisition since Lynne and Salesforce co-founder Marc Benioff became TIME's owners in 2018, when the husband and wife duo bought the media firm for $190 million.
As well as supporting brands looking to enter the web3 space, the acquisition will see Brandcast’s name change to TIME Sites as it looks to focus on providing new opportunities for existing Brandcast clients and TIME partners.
TIME’s website builder
Since going independent, TIME has expanded its product offerings, with the film and television division TIME Studios launching in 2020.
Now, two years later, TIME Sites is set to follow suit, but will instead focus on helping partners turn content into customized microsites.
"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.
Brandcast is the first no-code digital platform for enterprise websites, and is funded by several technology investors, including Benioff, Shasta Ventures, TPG Growth, and Buchanan Investments.
"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."
Brandcast's website building platform enables web developers to build websites, particularly for high-velocity marketing that serves global brands.
TIME's magazine and digital platforms currently reach more than 100 m
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