eXp World Holdings, Inc. (Nasdaq: EXPI), the parent company of eXp Realty and Virbela, today announced the pending acquisition of SUCCESS Enterprises.
The deal will include SUCCESS Enterprises’ related media properties, including SUCCESS print magazine, SUCCESS.com, SUCCESS newsletters, podcasts, digital training courses and affiliated social media accounts across platforms.
SUCCESS is a 123-year-old company with substantial brand recognition in the personal development industry, a global market valued at $38 billion in 2019, according to Grand View Research. Through the acquisition, eXp World Holdings will obtain SUCCESS’s established print distribution model and digital footprint, which has a combined reach of over 6 million including print readers, SUCCESS.com website visitors and social media followers. The acquisition also includes valuable intellectual property and assets in the personal development industry, which eXp will leverage to enhance all the eXp brands while expanding SUCCESS’s reach.
The addition of SUCCESS will amplify eXp’s existing efforts to teach personal development skills. Through SUCCESS’s established print and digital platforms and eXp’s immersive 3D Virbela technology, eXp plans to create an ecosystem to support content, coaching, training and events in the entrepreneurial, personal development and leadership space. One of the first initiatives is to create on-demand coaching and best-in-class digital courses for business leaders across the country.
“From inception, eXp has valued personal development as a key underpinning of the success of real estate professionals. 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,” said eXp World Holdings CEO and Founder Glenn Sanford. “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. Our goal is to continue to invest and expand the SUCCESS brand. By extension, this will be an investment in our agents, brokers and eXp staff, as well as a value-add for the existing SUCCESS audience.”
SUCCESS and its assets were previously owned by Success Partners, based in Plano, Texas.
“In considering the sale of an institution as meaningful and influential as SUCCESS, I wanted to entrust the brand with new ownership that would continue to serve the legacy SUCCESS audience,” said Success Partners CEO and Founder Stuart Johnson. “I know Glenn Sanford’s vision, values and integrity. During their upcoming stewardship, I am confident he and eXp will always put the community first.”
“The mission of eXp World Holdings and SUCCESS are naturally aligned,” said SUCCESS magazine’s Editor-in-Chief Josh Ellis. “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. 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.”
Throughout the transition of ownership, SUCCESS will remain led by a team of journalists and strategists, including Chief Storytelling Officer Kindra Hall, Director of Digital & Commerce Lauren Cannon and Ellis. SUCCESS also welcomes Don Hobbs, who is joining the team as president of SUCCESS Enterprises and will lead strategy and brand expansion.
“I am honored to contribute to SUCCESS’s 123-year legacy and to bring my strategy and brand development expertise to the team,” said Hobbs. “SUCCESS’s long-standing history paired with eXp’s forward-thinking vision creates a timelessness that elevates both brands and promotes continued growth.”
The acquisition is currently in the early stages and is expected to be completed by first quarter 2021.
