Discovery Communications has announced that it has acquired HowStuffWorks (www.howstuffworks.com) for US$250 million. The purchase includes all of the online properties owned by the company. This makes the HowStuffWorks purchase the largest in Discovery’s history.
HowStuffWorks is billed as a reference tool online that is accessed by 3.8 million visitors per month with a reported user base of over 11 million. The site is popular with kids who want to learn “how things work” and will be folded into Discovery’s own Web site offerings that are in need of content.
During the three rounds of funding for HowStuffWorks, they were able to raise over US$125 million multiple investors, including venture capitol companies in both Brazil and China. This made HowStuffWorks one of the best funded dot com companies that was able to be a survivor of the dot com bust.