SAY: Welcomes ReadWriteWeb from SAY Media on Vimeo.

Forbes puts it best: ‘Say Media might be the biggest web publisher you’ve never heard of. That’s probably going to change.’

The company is looking to grow its profile, and is looking to do so through an aggressive growth program. To start, it has announced the acquisition of ReadWriteWeb, the (very) popular tech blog that picks up about 650,000 monthly unique visitors, reports Forbes. Now, Say Media owns five sites and has ‘extensive media-rights agreements with another seven’. And, it is the ad sales platform for 500 more.

All of this translates to revenues of around $100 mn.

The company’s CEO, Matt Sanchez, says these numbers will only grow next year. Say Media is looking to take the 12 sites it controls (through ownership or media rights) up to 30 to 40, with a vision to become an Aol or Yahoo! that is ‘more responsive to modern media dynamics.’

For the past two years, Say Media has been profitable, according to Forbes, but it plans to lose ‘a couple million’ in 2011 because of the investments it has made in growth.

Next stop: IPO pipeline?

Planning an IPO? You need to read this >>

Source: Forbes