Vox Media, a digital media company, has received a minority investment from General Atlantic.
The transaction reportedly amounted to $46.5m.
Vox Media will use the proceeds to focus on a number of strategic initiatives to continue to grow and enhance each of its seven media brands. Among others, it will accelerate its strategy of producing video content and distribution across all relevant platforms. The offerings of Vox Creative, Vox Media’s in-house marketing solutions unit, will continue to expand, increasing products and services offered to advertising and brand partners.
Founded in 2011 and led by Jim Bankoff, Chairman and CEO, and Lindsay Nelson, Vice President of Vox Creative, Vox Media owns and operates:
SB Nation (sports),
The Verge (tech/lifestyle), which has just partnered with Marques Brownlee, a video producer, host, and technology reviewer known for his YouTube Channel MKBHD, who will be featured in a video series,
Vox.com (general news),
Eater (dining/nightlife),
Racked (fashion/shopping),
Curbed (home/real estate), and
Polygon (gaming).
Other investors in the company include Accel Partners, Comcast Ventures, Khosla Ventures, and General Atlantic.