Sun Seven Stars Media Group Limited, a private media and investment conglomerate in China, has purchased a majority stake in Grapevine a site that helps marketers run end-to-end social media influencer marketing programs. The deal is expected to close later this year and will aim to accelerate Grapevine’s product development and expansion to new markets.
“Our vision is to become the global leader in content driven social commerce. When we met with Bruno and his leadership team it was very clear that they were the right partner to help us accelerate our product development goals and grow the business here in the U.S. and internationally,” said Grant Deken, Grapevine’s Co-Founder and CEO.
Grapevine, which had more than 90,000 content creators generating 5.7 billions views per month is now expected to grow 33% annually through 2019.
Sun Seven Stars also plans to focus on Grapevine’s ability to help creators monetize their video content and enable brands and agencies to scale their branded content programs and content management.
“Social content creation is a global phenomenon that has changed the way consumers discover and purchase products,” Said Bruno Wu, Co-Chairman and CEO of Sun Seven Stars Media Group Limited. “The Grapevine platform enables streamlined social content development and distribution for our network of partners. We are excited to have them as a partner and help them build a media company with a global footprint.”