Mamamia Women’s Network has confirmed to B&T this morning that they have embarked on a process with global auditor and advisor company, KPMG, to find a suitable investment partner to aid its future business endeavours.
Having been approached for international suitors in recent times, both founder Mia Freedman and executive chairman Jason Lavigne have decided the time is right to seek out a financial partnership.
Freedman and Lavigne currently own the MWN outright and, as B&T understands, hope to employ an investor to help grow its business further.
At the recent MWN upfronts, the team claimed to have the strongest digital reach to the Australian female audience, stretching their coverage to areas of automotive, finance, sport and travel, while also expanding into US waters with the launch of Spring.St (formerly Flo & Frank) earlier this year.
Per a report from The Australian, following the international offer, MWN has decided to test the local waters to see what’s on offer from interested local parties. B&T understands the process could take anywhere between three and six months.
Per The Oz, an internal email quoted Lavigne saying despite previous offers, “the timing has never been right to proceed”, but that now it’s “time to bring in a partner to help accelerate our aggressive growth strategy and plans”.
MWN also recently launched Broad, a collaborative content agency specialising in women to help brands with projects aimed at reaching the wider female audience.
“We develop effective standalone products, but we also know it takes a village to raise a brand-child, so we love collaborating with brands and agencies as well,” research and insights director Tegan Gilchrist told B&T at the upfronts.