Seattle startup Cozi, founded in 2005 by former Microsoft manager Robbie Cape, has been acquired by Time Inc. in a deal of undisclosed size.
The company, with about 10 million users, developed a Web site and mobile application designed to help families better schedule activities.
“Cozi is a terrific fit for Time Inc.,” said Time Inc. CEO Joe Ripp in a press release. “It immediately extends our product and technology portfolio. At the same time, it gives us a new product development hub as well as a foothold in the rapidly growing productivity category. Robbie Cape and his team have built a dynamic business that will ultimately help us engage our audiences more deeply.”
Newspaper giant Gannett Co. previously invested in Cozi, which had raised more than $24 million as of 2012. Last year, it raised $5.7 million, according to a SEC filing. It’s unclear how many people were employed at Cozi, and whether they will all be joining Time Inc.
Cape tells GeekWire that all of Cozi’s employees will join Time Inc., continuing to be based out of Seattle.
“We were a small company doing a lot with limited resources. We are now better positioned than ever to continue realizing our vision of giving families the tools they need to simplify everyday life, ease communication and connect with each other,” Cape said.
Here is the full press release.
Time Inc. announced today that it has acquired Cozi Inc., a Seattle-based technology company with a leading portfolio of mobile and digital family organizing tools. Terms were not disclosed.
Cozi was launched in 2005 by former Microsoft and Amazon executives with a vision for creating technology that brings families together. Today, the company is a leader in the digital family organization and calendar space with more than 10 million users who manage day-to-day family activities with Cozi’s suite of products.
“Cozi is a terrific fit for Time Inc.,” said Joe Ripp, Time Inc. Chairman and CEO. “It immediately extends our product and technology portfolio. At the same time, it gives us a new product development hub as well as a foothold in the rapidly growing productivity category. Robbie Cape and his team have built a dynamic business that will ultimately help us engage our audiences more deeply.”
“Cozi is an asset that can be leveraged across our entire brand portfolio,” said Time Inc. Executive Vice President, Evelyn Webster, who will have responsibility for Cozi. “Its organizational tools naturally align with the more than 53 million families we reach every month through brands like Real Simple and we believe its products can have a wider application. We are excited to combine our rich and diverse content with Cozi’s technology platform and see a great opportunity to grow this business.”
“It’s a match made in heaven,” said Robbie Cape, CEO of Cozi. “Our expertise in the mobile and family technology space coupled with Time Inc.’s incredible brands, content and reach—I could not imagine a better fit.”
Founded by CEO Robbie Cape, a former Microsoft General Manager, Cozi is a technology company dedicated to simplifying everyday life, easing communication and connecting busy families. Its signature product, Cozi Family Organizer, has more than 10 million users and is the leading solution for busy families to manage schedules and activities, track grocery, shopping and to do lists, plan meals and store recipes, organize household chores and keep family memories.
The product is accessible across multiple platforms and is advertiser supported. Cozi Gold, the company’s premium subscription product, offers users expanded features. With the acquisition, Real Simple Publisher Charlie Kammerer will take responsibility for Cozi advertising management working closely with Cape.
About Time Inc.
Time Inc. is one of the largest media companies in the world reaching more than 130 million consumers each month across multiple platforms. With influential brands such as TIME, PEOPLE, SPORTS ILLUSTRATED, InStyle, REAL SIMPLE, Wallpaper, Travel + Leisure and Food & Wine, Time Inc. is home to celebrated events and franchises including the FORTUNE 500, TIME 100, PEOPLE’s Sexiest Man Alive, SPORTS ILLUSTRATED’s Sportsman of the Year, the Food & Wine Classic in Aspen and the ESSENCE Festival.
