NewsCred, which provides licensed content to publishers and brands for their websites and content marketing campaigns, has acquired a startup called Daylife.
The financial terms of the deal are not being disclosed. NewsCred did say that it expects to bring all of Daylife’s employees over to the new team. The company also said that the acquisition should effectively double its revenue and customer base.
NewsCred will continue to support Daylife’s cloud publishing products — NewsCred co-founder and CEO Shafqat Islam said those products “will continue to work uninterrupted and seamlessly.” He also argued that the two companies’ products suites are complementary. Brands and publishers that run content from NewsCred (whose content is licensed in turn from partners like The Associated Press and the Guardian) can use Daylife’s publishing tools (such as Daylife’s Smart Gallery feature) to build better reader experiences around that content. Meanwhile, the customers who use Daylife’s publishing tools will be able to access articles and media licensed from Newscred’s 1,000-plus publisher partners.
The two companies already have a connection via Getty Images. Daylife had previously raised $12.3 million in funding, from Arts Alliance Ventures, Balderton Capital, and, yes, Getty, which is also a content partner with NewsCred. Islam said he’s hoping this acquisition will “deepen” NewsCred’s connection to Getty.
In the next few months, NewsCred plans to launch new products that integrate the two experiences, Islam said.
Perhaps coincidentally, NewsCred also just filed a Form D with the Securities and Exchange Commission stating that it has raised $1.75 million in new funding. However, the filing states that this isn’t an equity round of funding, but instead involves debt and “Option, Warrant or Other Right to Acquire Another Security,” so the exact nature of the transaction is a bit fuzzy, at least to me. When asked about the filing, Islam said, “Unfortunately I can’t comment on any financing-related details for legal reasons.”