Another home-grown website has been snapped up by a foreign owned media giant.
runwayreporter.com is New Zealand's only dedicated 24 hour fashion website and although the site is just seven months old it posed an attractive addition to Murdoch-owned publishing company ACP Media.
Stacy Gregg's idea for the fashion website came from Paris.
"In our minds it started out as being this little blog and it instantly became this massive online magazine," says Gregg.
Part of its success is down to its editorial credibility in the fickle fashion business.
"If we say something's a good thing on the site or we say it's an editor's favourite, it's because I genuinely believe it is, not because someone paid me money to say it is," says Gregg.
The website is ranked New Zealand's number one site for the time viewers spend perusing its pages.
Gregg says once people go onto the site they are there for half an hour on average.
ACP Media wanted the website to complement their existing fashion magazines. It is ACP's twelfth title to go online and Gregg will remain as editor.
Selling your start up website to a media giant is becoming very fashionable in New Zealand. Sam Morgan sold off the auction site Trade Me to Fairfax Media for $700 million in March.