Fashion
Media giant Yeah1 Group has acquired ScaleLab, a U.S. Youtube multi-channel network, for $20 million. ScaleLab is expected to receive $12 million upfront and another $8 million later if business targets are achieved two years after the merger. ScaleLab executives have said the company agreed to the sale because it requires an infusion of funds to expand operations and desired to integrate with Yeah1’s media ecosystem.
ScaleLab plans to expand into Asia, where Yeah1 connects Asian talents and influencers with the international market.
Tri Dao Phuc, CEO of Yeah1, said the strategy over the next three years is to “acquire premium social media brands, optimize our existing channels to boost viewership and performance.”
Headquartered in Hollywood, the U.S., ScaleLab is best known as the Youtube partner of Jake Paul, Jimmy Donaldson, Mariale Marrero, Erika Costell, Katie Angel, and many other YouTube stars.
It has a roster of 1,750 influencers and 400 million subscribers, and gets three billion Youtube views a month.
The five-year-old company was recognized as the fastest-growing media company in the U.S. by Inc. Magazine last September.
This is not Yeah1’s first acquisition in the social media field. Last year it had bought two multi-channel network (MCN) companies, SPRINGme of Thailand and Something Big of France.
Founded in 2006 it is Vietnam’s largest multi-channel media ecosystem, operating TV channels, movie studios, Youtube networks, and digital news.
It was also the first media company to list when it got into the Ho Chi Minh Stock Exchange (HOSE) last June.
