Vox takes $46.5 million in funding as media investments stay hot



Vox Media has closed a funding round of $46.5 million, putting it among other digital media companies, including BuzzFeed and Vice, that have attracted major recent investments at sizable valuations.
The Series E round values the company at $380 million, according to theNew York Times. The investment came from only one firm: General Atlantic. Since the company's first major funding round in 2009, it has raised about $107 million.
Content companies have not traditionally attracted much in the way of venture capital. VC firms tend to hunt for companies that have the potential to return investments many times over. Content companies, even very successful ones, don't usually yield the kinds of enormous investment returns software companies, for example, have delivered in recent years.
Now, Vox joins numerous other media companies that have taken major funding rounds at large valuations. BuzzFeed's most recent investment valued the company at $850 million. Vice took funding that pegged it at $2.5 billion.
Vox Media has grown quickly, both in terms of size and revenue, claiming 150 million unique monthly visitors across its various sites.
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IMAGE: QUANTCAST
On Sunday, Vox Media CEO Jim Bankoff published a blog post on LinkedInaddressing the investment and the company's future plans.
"The GA investment is an important milestone. We should all take pride in knowing how far we’ve come and have confidence in our ability to go so much farther," Bankoff said.
The post also alluded to some possible future moves by Vox beyond its work as a content company and into platform building.
"Next year Vox Product will take the same strong approach with a focus on continuously improving our products and turning them into broader platforms," Bankoff wrote.




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