Canadian Internet conglomerate Valnet Inc has acquired BornRich.com, an online luxury magazine which serves lifestyle content. The online portal, which claims 2.5 million readers and 4 million impressions a month did not disclose the deal size.
The sites readership is primarily from the United States.
BornRich.com was founded in 2006 by Nandini Rathi, who was part of the founding team of Instamedia, a blog network backed by the Times Group.
“Valnet Inc has a great portfolio of websites and this will be an addition to it,” said Nandini Rathi, the Managing Editor of Bornrich.com. The luxury portal was part of Instamedia’s network. Last year, when Instamedia sold its properties to different buyers, Rathi bought back BornRich.
“It was too big for me to let go at that time,” said Rathi. Since then, the portal has grown 6 times in traffic, she added.
Content Network, InstaMedia which raised $4mn funding from Times Internet had sold its properties to different companies a few months ago. The founders went on to start a new online publishing platform called Betaout where Nandini is a part of the core team.