Online publisher company, Vox Media has secured USD 46.5 million in series E round from New York investment firm General Atlantic, at a valuation of USD 380 million. Vox Media is a parent company of The Verge, Racked, SB Nation, Eater, Polygon and more, all of which are online portals for news of various kinds.
As per a New York Times report, the company will use the money to raise the profile of his brands and to improve the company’s custom-content abilities for advertisers. It will also be investing in video, and expand its audience through partnerships with YouTube personalities.
Including the latest round, the firm has raised a total capital of USD 154.1 million in 8 rounds from 6 investors. Founded in 2003, as a venture of Tyler Bleszinski, Markos Moulitsas and Jerome Armstrong, Vox Media is also supported by Accel Partners, Comcast Interactive Capital, Khosla Ventures and Allen & Company.
Till date, Vox Media had acquired 4 companies such as Curbed Network, The Offside, FanTake and The Sporting Blog. Also, it is directly competing with Bleacher Report, FanSided and Bloguin.
In August, another news and entertainment site, BuzzFeed had raised USD 50 million at a valuation of USD 850 million. Back in July, Media start-up news and commentary website Scroll.in has secured an undisclosed amount led by Omidyar Network.
Recently India’s very own counterpart of BuzzFeed, ScoopWhoop, had raised INR 10 crore. Evidently, more and more investors are showing interest in online media companies. Where at one point, monetization of content was considered to be a challenge, the popular content websites are gaining interests from users and in turn the advertisers, which is leading to them coming into the investors’ spotlight.