Recurrent Ventures Named the New Parent Company of Popular Science, The Drive, Domino, Field & Stream, and Other Brands

Lance Johnson named CEO, Matt Young CRO

News provided by

Jun 15, 2021, 12:06 ET

NEW YORK, June 15, 2021 /PRNewswire/ -- North Equity LLC announced today that it has launched Recurrent Ventures as a new operating business for its digital media portfolio. Recurrent is now the parent company to well-known brands such as Popular Science, The Drive, Domino, Field & Stream, SAVEUR, Outdoor Life, Task & Purpose.

Founded in late 2018 to purchase The Drive, North Equity has since acquired 15 brands. Recurrent will continue to be backed by the venture equity firm as it scales the digital media portfolio, fosters editorial talent, and helps its brands expand and diversify.

"We've been growing at a rapid pace since inception. We're now at the point where we can unveil the digital media business and tell our story," North Equity Managing Partner, Andrew Perlman says. "While North will continue to be focused on digital media–related investments and M&A, this change will also allow us to expand and diversify our investment portfolio."

Lance Johnson, who was previously the Operating Partner of North Equity and General Manager of Popular Science, Field & Stream, and Outdoor Life, has been named Recurrent's CEO. Lance brings a wealth of digital media and executive experience from Naspers, Nokia, and Yahoo. Matt Young, a revenue and operations veteran who previously held executive roles at Motorsport Network, Yahoo, and Verizon Media, joins Recurrent as CRO. "We pride ourselves on hiring great people and being as transparent with them as possible, and are excited to welcome Matt to the team," Johnson says.

Recurrent's business strategy will continue to include best practices from the venture capital, media, sustainability, and technology sectors while expanding on the core values that North set to differentiate itself in a crowded media landscape."Having all of our brands under the umbrella of one digital-focused company better positions them for alignment, collaboration, and strategic growth," Johnson says. "This transition allows us to create a new type of digital media company, giving editorial teams the freedom to create and the capital, support, and innovative technology they need to grow. However, Recurrent is not just another media company: We're intent on being a creator-friendly company, committing to sustainability coverage and eco-friendly business decisions, and providing an equity structure that makes everyone an owner."

Visit recurrent.io to learn more. Recurrent is engaging TANK Design to provide brand development.

ABOUT RECURRENT VENTURES
Recurrent is an innovative digital media company that empowers brands to grow, and connects consumers with media in a way that is enjoyable, sustainable, inspiring, and profitable--while maintaining editorial integrity. Its best-in-class brands like Popular Science, Domino, Outdoor Life, The Drive, Field & Stream, SAVEUR, and Task & Purpose, engage a combined audience of more than 45 million monthly unique visitors. Initially founded in 2018 with the acquisition of The Drive, the portfolio rapidly expanded under the ownership and backing of North Equity LLC to include more than 15 digital media brands across automotive, home, outdoors, specialty, and military verticals. Recurrent is headquartered in Miami, with offices in New York and San Francisco, and a virtual-first workforce across the United States.

ABOUT NORTH EQUITY
North Equity LLC is a venture equity firm that specializes in acquiring and investing in digital brands with high growth potential. North's investment team has extensive experience as private investors and operators at the intersection of technology, data, and digital media. Its investment portfolio includes Recurrent Ventures, the parent company of best in class digital brands such as Popular Science, The Drive, and Domino, and Empire Software, a SaaS platform. Since it was founded in late 2018, North has managed the acquisition of 15 digital media brands for Recurrent and will continue making strategic acquisitions and investments across the digital media and technology landscape. North is headquartered in Miami.

SOURCE Recurrent Ventures