A shopping platform buys Complex

NTWRK, a live-streaming platform backed by big names like Goldman Sachs, acquired Complex Media from BuzzFeed for $108 million.

NTWRK focuses on live stream shopping for superfans of streetwear, sneakers and pop culture. They often sell exclusive and rare items in this group.

The acquisition reunites Complex with the products it often covers, like sneakers and apparel, under NTWRK's ecommerce umbrella.

• The goal? To create the next generation of content and shopping

• CNN says its to create a one stop shop for Complex’s cultural superfans.

BuzzFeed, like many digital publishers, has faced tough times recently from declining ad revenue. Selling Complex helps them pay down debt and refocus their efforts.

Ntwrk's live-streaming approach and focus on superfans represent a potential path forward, and Complex's cultural impact could be a valuable tool in this new venture.