Mamamia has denied that it is for sale, confirming to AdNews it is instead seeking investors to fund “aggressive growth” in the Australian and international market.
Yesterday it was reported in The Australian that KPMG has been appointed to sell the female-focused publisher.
Sources close to Mamamia have told AdNews founder Mia Freedman and executive chairman Jason Lavigne will not sell the business, but are seeking advice on how to bring investors on board.
It is expected Mamamia will receive extra funding in the first half of next year.
Freedman and Lavigne have been approached a number of times in the past and are now ready to accept extra funding to accelerate the growth of Mamamia and its US publication, Spring St.
In 2015, Freedman flagged ambitions to take her empire overseas with the launch of a US site, Spring St.
Mamamia has experienced year-on-year growth in excess of 100%, growing from 30 staff in 2014 to a total of 120 staff globally.
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