NTWRK collabs with Complex on a new company

Together with

The Future. NTWRK’s acquisition of Complex is meant to combine the ecommerce power of the former with the expert curation of the latter — a move that strengthens both companies by diversifying their lines of revenue. If successful, other digital publishers may look to find a commerce partner that helps them wean off their reliance on ads.

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Complex is entering its new era of content and commerce.

  • NTWRK is acquiring the company from BuzzFeed for $108.6 million… but without the First We Feast brand (Hot Ones), which will operate independently under BuzzFeed.
  • NTWRK and Complex will combine to form a new company, which already has backing from Main Street Advisors, Jimmy Iovine, Goldman Sachs, and Universal Music Group.
  • Speaking of UMG, the new company has struck a “strategic partnership” with it on co-branded experiences and collaborations.

The new Complex will be a lot like the old Complex — a diversified focus on editorial, commerce, and live events, spearheaded by new CEO Aaron Levant (former NTWRK CEO).

For BuzzFeed, the short sale (it had bought Complex for $300 million in 2021) is meant to help keep the embattled company afloat, which is now worth only $30 million — a far cry from almost selling to Disney for $650 million a decade ago.

David Vendrell

Born and raised a stone’s-throw away from the Everglades, David left the Florida swamp for the California desert. Over-caffeinated, he stares at his computer too long either writing the TFP newsletter or screenplays. He is repped by Anonymous Content.


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