Forbes Acquires FlipGloss
In an effort to meet rapidly changing market demands, Forbes Media on Friday announced the acquisition of FlipGloss Media, and its digital glossy insert photo publishing platform. Financial terms of the deal were not disclosed.
The technology is featured with Forbes' new ranking of "The World's Most Powerful People," available on Forbes.com, and in the November 30 issue of Forbes magazine. Lexus is the exclusive sponsor of the Most Powerful People ranking.
"We're always looking for ways to heighten the Forbes.com user's experience with our content," said Michael Smith, president of Forbes.com. "Incorporating FlipGloss' dynamic technology into Forbes.com with the launch of 'The World's Most Powerful People' ranking offers a premium environment."
Founded in 2008, Santa Monica, CA-based FlipGloss helps publishers -- including Variety and Scripps Networks -- and advertisers create and distribute interactive, magazine-style content packages, which are designed to increase user engagement and ad performance.
The FlipGloss Digital Glossy Insert slideshow experience lets users "Flip, Hover, and Discover" editorial content and ads in a unified, interactive image stream.
This past year has been a time of great uncertainty for Forbes. Last month, the publisher cut 100 jobs from both the editorial and business side.
"On the editorial side, we will maintain the essential strengths of Forbes, while also deepening our relationships with our community," Publisher Steve Forbes said in a memo to staff. "On the advertising side, we are making shifts to fully meet marketers' evolving needs ... These current difficulties are a more intense version of what we underwent eight years ago, particularly after 9/11."
Previously, upon completing the merger of its online and print editorial operations in January, Forbes laid off 19 staffers, shuttered its auto site and severely cut the staff at Forbes Traveler.
In May, meanwhile, Roger McNamee, who helped spearhead Elevation Partners' decision to buy a 40% stake in Forbes Media about three years ago, resigned from the Forbes board. Elevation's Bret Pearlman -- known as an aggressive cost-cutter -- was tapped to replace McNamee.