EXp World holdings is set to acquire SUCCESS Enterprises and its personal development-focused media properties, which include a print magazine, website, newsletters, podcasts, training courses and social media accounts. The company announced the acquisition on stage at its virtual event eXpCON Thursday.
The parent company of eXp Realty and VirBELA will use the acquisition to create another revenue stream, while also offering its own real estate agents and other business leaders on-demand coaching and digital personal development courses.
“From inception, eXp has valued personal development as a key underpinning of the success of real estate professionals,” Glenn Sanford, eXp World Holdings CEO and founder, said in a statement. “We began distributing SUCCESS magazine to every eXp agent and broker as a part of this commitment to help them succeed at the highest level.”
“When the opportunity to acquire SUCCESS was presented to me by Stuart Johnson and Success Partners, I was all over it, because of what the publication means to me and to so many salespeople and entrepreneurs,” Sanford added.
EXp will continue to invest and expand the company’s existing brand — which he said will be an investment in his own staff, by extension. The company, in the future, could incorporate SUCCESS’ collateral into the VirBELA virtual world platform, which already contains coaching and development curriculum.
Grand View Research, a market research firm valued the company at $38 billion in 2019. With the acquisition, eXp World Holdings gains a print magazine footprint with more than 6 million readers, as well as intellectual property and assets in the personal development industry.
The acquisition similar to the company’s acquisition of VirBELA two years earlier, in that eXp World Holdings is acquiring a company of which it was a customer and will continue to expand current operations.
The acquisition won’t likely be completed until 2021, so details — including the cost — still scarce, but SUCCESS’ existing team will remain in place, including Kindra Hall, the chief storytelling office; Lauren Cannon, the director of digital and commerce and Josh Ellis, the editor in chief. Don Hobbs will join as president and lead strategy and brand expansion.
“The mission of eXp World Holdings and SUCCESS are naturally aligned,” Ellis said in a statement. “More people than ever are seeking work in the freelance or gig economy, as well as all forms of ‘solopreneurship’.”
“To compete in this growing marketplace, many will pursue the personal development resources required to help them learn new skills,” Ellis added. “Our first offering together will combine our expertise and perspective with eXp’s immersive technology platform Virbela to help these people reach their greatest potential.”