Subscription service and city guide, My Little Paris, has been acquired by Aufeminin this week. The transaction, learned from mulitple sources value it to be around USD 90 million (EU 66.7 million) for the acquisition. Part of Axel Springer, Aufeminin is one of the largest lifestyle website in France.
As of the moment, Aufeminin spent USD 54 million in cash to acquire a 60 percent share of My Little Paris, with future plans to acquire the rest of the company. It is indeed a success story for the four co-founders whom only put together USD 6,700 as initial capital.
In 2008, My Little Paris began as a simple woman-centric weekly newsletter featuring urban tips, restaurant advice and many more which attracted a healthy subscriber base. Fast forward to today and it already has more than a million subscribers receiving their recommendation newsletter three times a week.
Nowadays, the website is no longer the core business model. My Little Paris has in 2011, launched a subscription service for women wherein women receive a box of beauty and fashion items carefully curated by the startup and already garnering 70,000 people subscribing for USD 21 per month.
With this acquisition, My Little Paris is set to expand but for now, it is still France-centered.
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