Leading business magazine Success and all related media properties have been bought by eXp World Holdings.
The deal will see eXp acquire Success Enterprises, including the 123-year-old print magazine, Success.com, newsletters, podcasts, digital training courses and affiliated social media accounts. This equates to a combined reach of over 6 million.
The acquisition is expected to be completed by first quarter 2021.
eXp World Holdings is the parent company of eXp Reality, a cloud-based real estate brokerage, and Virbela, an immersive technology platform for business, events and education. Success will slot nicely into their portfolio.
“From inception, eXp has valued personal development as a key underpinning of the success of real estate professionals,” said eXp World Holdings CEO and Founder Glenn Sanford.
“We began distributing Success magazine to every eXp agent and broker as a part of this commitment to help them succeed at the highest level.
“When the opportunity to acquire Success was presented to me by Stuart Johnson and Success Partners, I was all over it, because of what the publication means to me and to so many sales people and entrepreneurs.
“Our goal is to continue to invest and expand the Success brand. By extension, this will be an investment in our agents, brokers and eXp staff, as well as a value-add for the existing Success audience.”
Success Partners CEO and Founder Stuart Johnson said “considering the sale of an institution as meaningful and influential as Success” was no easy task.
“I wanted to entrust the brand with new ownership that would continue to serve the legacy Success audience,” Mr Johnson explained.
“I know Glenn Sanford’s vision, values and integrity. During their upcoming stewardship, I am confident he and eXp will always put the community first.”
“The mission of eXp World Holdings and Success are naturally aligned,” adds Success magazine’s Editor-in-Chief Josh Ellis.
“More people than ever are seeking work in the freelance or gig economy, as well as all forms of ‘solopreneurship’. To compete in this growing marketplace, many will pursue the personal development resources required to help them learn new skills.
“Our first offering together will combine our expertise and perspective with eXp’s immersive technology platform Virbela to help these people reach their greatest potential.”