About a year ago, Doing Things Media (DTM) raised a $21.5 million Series A funding round. At the time, the media company announced its plan to expand its roster of content brands, many of which are associated with Instagram.
To kick off the new year, DTM has followed through on that promise. It has acquired Overheard, the brand known for dispensing bits of gossip from the streets of New York and Los Angeles.
The two primary Overheard Instagram accounts both reach more than 1.6 million followers. Both of New York and Los Angeles dispatches present whimsical snapshots of big city life by sharing funny, biting, and/or quippy remarks from around town.
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“So…what do you do for work?”
“Oh, I’m an influencer! If you want to know more, you can follow me on Instagram.”
“I’m good. You’re in a middle seat in coach…it’s not working.”
— Overheard (@realoverheardla) September 28, 2022
DTM plans to enlarge the Overheard portfolio by bringing the brand to new cities. New content, product, event, licensing, and advertising opportunities will also be explored, with DTM plotting rapid expansion for its new property.
The financial terms of the acquisition were not disclosed. In a statement, DTM CEO and Co-Founder Reid Hailey touted his company’s ability to build “niche communities.” He added that Overheard “fits seamlessly into our portfolio.”
Other brands under the DTM umbrella include buzzy athletic hub Bob Does Sports, Instagram memelord Shitheadsteve, and Recess Therapy. The last of those accounts went viral in August 2022 when it introduced the world to Tariq the Corn Kid, who really likes corn.
“Doing Things Media represents the very best of internet culture and empowers its creators to scale and monetize in ways that wouldn’t be possible alone,” Overheard creator Jesse Margolis said in a statement. “Overheard has always been an extremely fun, irreverent, and profitable company, and as we look to scale the company, DTM will help get us where we want to be by helping extend the brand across new categories and revenue streams.”
In total, the DTM network spans more than 35 brands. Those properties combine to reach 75 million followers across Instagram, Facebook, TikTok, YouTube, and Snapchat.
