Sprouter made a very tough decision in early August. They announced that they were shutting down. A decision that would send all those involved with the company in separate directions, which was very disappointing to their community of entrepreneurs. However, not long after making the announcement the company started working on ways to keep Sprouter’s online startup community alive. So with great excitement Sprouter has been acquired by Postmedia Network Inc.
Postmedia is Canada’s largest publisher of paid English language newspapers, and the company’s assets also include community-based publications and 50 destination websites.
“Postmedia has a rich history of creating world-class content, engaging audiences and forging strong, profitable businesses,” wrote Erin Bury Community Manager, Sprouter in an email to Social Times. “We’re excited to take advantage of their in-house expertise (not to mention big company resources) as we continue to build Sprouter.”
Sprouter’s existing team is returning, and we’ll be expanding as the company moves forward. “We can’t share too much about our immediate plans for integration, but we will be expanding our content offerings and online Q&A functionality,” reports Bury.
“We are thrilled to welcome Sprouter to the Postmedia Network family,” said Paul Godfrey, Postmedia’s chief executive, in a release. “Sprouter complements our Digital First strategy and brings a spark of digital entrepreneurship to our family of brands.”
Postmedia will keep the Sprouter name as well as the brand with founder Sarah Prevette remaining as the new division’s top executive. All content and branding associated with Sprouter will be incorporated into Postmedia’s print and digital properties as of next week.