AceShowbiz - Zooey Deschanel's co-founded Hello Giggles has been acquired by Time Inc., the parent company of PEOPLE and Entertainment Weekly. The actress co-founded the lifestyle website along with Sophia Rivka Rossi and Molly McAleer four years ago.
The "New Girl" star will remain Chief Creative Officer of the website while Rossi continues to serve as a CEO. "With Time Inc. as our partner, we'll be able to expand the HelloGiggles mission and inspire and support even more young women with a safe and positive media platform," she gushes.
Hello Giggles targets female audience and declares themselves as "a positive online community for women." Since launched in 2011, it has reached more than 17 million monthly unique visitors. According to Wall Street Journal, Time Inc. purchased it for about $20 million.