Complex is sold to ecommerce company

February 22, 2024

A ecommerce startup backed by Universal Music Group and Beats co-founder Jimmy Iovine is buying the music, culture, and streetwear digital media company Complex. NTWRK, the live-stream online shopping platform with backing from Goldman Sachs and Main Street Advisors, announced on Wednesday that it had acquired Complex from BuzzFeed for $108 million. The company said it envisions using Complex’s connection with hip-hop fans and sneakerheads to deepen its relationships with high profile musicians and artists. “My journey with Complex began as an admirer of their original magazine in 2002 and it has now come full circle as I step into the leadership role. Alongside this impressive team, we will create the definitive global content, commerce, and experiential platform of convergence culture.”