A ecommerce startup backed by Universal Music Group and Beats co-founder Jimmy Iovine is buying the music, culture, and streetwear digital media company Complex.

NTWRK, the live-stream online shopping platform with backing from Goldman Sachs and Main Street Advisors, announced on Wednesday that it had acquired Complex from BuzzFeed for $108 million. The company said it envisions using Complex’s connection with hip-hop fans and sneakerheads to deepen its relationships with high profile musicians and artists. This would, in turn, support NTWRK’s ecommerce business and “create a new destination for ‘superfan’ culture that will define the future of commerce, digital media, and music.”

“Complex has been a beacon of culture and innovation for over two decades” Aaron Levant, the new CEO of Complex, said in a press release. “My journey with Complex began as an admirer of their original magazine in 2002 and it has now come full circle as I step into the leadership role. Alongside this impressive team, we will create the definitive global content, commerce, and experiential platform of convergence culture.”