NBCUniversal’s Cable Unit Buys Majority Stake In Beauty & Wellness App

NBCUniversal; Priv

NBCUniversal Cable Entertainment has acquired a majority stake in Priv, an app that provides on-demand beauty and wellness services to consumers.

The company had made a small equity deal to “road test” the app two years ago, promoting it on such cable shows as Bravo’s Vanderpump Rules, Watch What Happens Live with Andy Cohen and the Real Housewives franchise. Today’s pact gives the company the option to secure 100 percent of Priv over the next three years.

“We see Priv as a natural fit with our own business, one that organically overlaps with the interests of our fans and offers transactional services that enhance our viewers’ lifestyles,” Dave Howe, President, Strategy & Commercial Growth and NBCU Cable Entertainment, wrote in a memo to staff. “Through our powerful brand platforms, we’re able to showcase all the services and benefits Priv professionals have to offer. From hairstylists and makeup artists to massage therapists and fitness instructors, we’ll show our audiences how they can enjoy the same lifestyle experiences seen on-air and online.”

Under the new corporate structure, Priv employees now will become employees of NBCUniversal, with Priv CEO Joseph Terzi reporting to Howe. Frances Berwick, President of Lifestyle Networks at NBCU Cable, will be joining Priv’s board.

“Our relationship with Priv has been a homerun,” Howe said.

The deal follows a similar one NBCU Cable made this month with Craftsy, an education and e-commerce site dedicated to cooking, knitting, photography and other home crafts.

This article was printed from https://deadline.com/2017/05/nbcuniversal-priv-investment-beauty-wellness-app-1202105523/