Online publisher Vox Media has acquired tech news website Re/Code, that is led by Kara Swisher and Walt Mossberg. Financial details of the size of the deal have not been revealed, however, it is known that it was all-stock.
As per a NYT report, Re/Code has 44 employees in its team, all of whom are expected to join Vox as part of the acquisition. Re/Code is a spin off from The Wall Street Journal’s former tech news vertical AllThingsD, started by Kara, Mossberg and a number of their colleagues.
Vox Media is the parent company of The Verge, Racked, SB Nation, Eater, Polygon and more, all of which are online portals for news of various kinds. The Verge also covers technology news. With this acquisition, Vox brings two tech publications under one roof, now it will be really interesting to see how they both grow and complement each other in coming months.
Apart from this, Vox Media has acquired four companies till now such as Curbed Network, The Offside, FanTake and The Sporting Blog.
In February this year, another news and entertainment site, BuzzFeed had acquired San Francisco-based Gif image creation startup GoPop. In November 2014, Indian social content website ScoopWhoop raised Rs 10 crores from Bharti Softbank. Media start-up news and commentary website Scroll.in had also secured an undisclosed amount led by Omidyar Network in July 2014.
Evidently, more and more investors are showing interest in online media companies. The popular content websites are gaining interest from users as well as advertisers, which is leading to them grabbing investors’ attention.Category Business