Food52 acquired by TCG Capital
Food52, the content and commerce destination for those interested in cooking and food that has an active community of over 16M, has been acquired by TCG Capital Management, an affiliate of The Chernin Group, the media holding company founded by broadcast executive Peter Chernin in 2009. The exact terms of the transaction were not disclosed but TCG acquired a majority stake in the company for $83M with a total valuation exceeding $100M. A little back of the envelope math indicates that the max value of the deal is $162.75M if Chernin acquired 51% for that $83M figure.
“Our true north star is our community and our dogged belief that many is better than one,” said Merrill Stubbs, Food52 Cofounder and President. “We met our ideal partner in TCG, which shares our vision and values for building a community-driven consumer brand.”
Selected investors in the round: Lerer Hippeau, LocalGlobe, BDMI, Scripps Networks, 14W
Founding year: 2009
Total funding raised: $96.3M
Time from founding to exit: 10.26 years
Full coverage: Food52 acquired by TCG Capital
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