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The Arena Group Holdings, Inc. (NYSE:AREN) ("The Arena Group" or the "Company"), has acquired the intellectual property of ShopHQ from IV Media, LLC. The Arena Group plans to build on the legacy of the 35-year-old brand with a primary focus on E-Commerce and interactive selling.
"With the acquisition of ShopHQ, a former $500 million plus revenue company, through the utilization of ShopHQ's powerful first party customer data and Arena's reach to millions of engaged readers daily, we aim to synergize and monetize commerce and content across our digital platforms," said Paul Edmondson, Chief Executive Officer of The Arena Group. "The vision is to create pools of first party data sets allowing our advertisers to reach specific, targeted audiences leading to an increased value of our programmatic inventory. We believe this acquisition allows us to not only to increase our active engagement with Arena's readers and bring them the products they are asking for but also increase the value and conversion rates for our advertisers. We believe the bridge we're building between data, brands and users has enormous potential."
Customers will be able to find ShopHQ on social, YouTube and directly on the ShopHQ website. While ShopHQ's mission will remain the same, the way that customers discover products and interact with hosts and talent will evolve to fit this more streamlined, on-demand retail environment. ShopHQ will engage with customers across digital platforms with an emphasis on creator-led social selling, reaching both loyal existing and new audiences. Arena plans to lean into a more dropship-focused inventory relationship with vendors to ensure cost-efficiency and the ability to pivot and adjust product offerings in near real time to consistently offer customers the products they actively desire, at strong values, instead of aged inventory.
Jessica Gregory, General Manager of ShopHQ said, "ShopHQ has a loyal customer base that we're eager to re-engage with trusted brands and experts. Combining Arena's capabilities with live-selling and commerce content will enable ShopHQ to excite current customers while engaging and converting new ones."
Posted In: AREN
