Group Nine Media
| Company type | Private |
|---|---|
| Industry | Digital media |
| Founded | October 2016 |
| Founder | Ben Lerer (CEO) |
| Defunct | February 22, 2022 |
| Fate | Acquired by Vox Media |
| Headquarters | New York City , United States |
Area served | United States |
Key people | Ben Lerer (CEO) |
| Products | Thrillist, NowThis, The Dodo, Seeker, SourceFed, PopSugar |
| Owner | Discovery Communications (minority stake), Axel Springer |
Group Nine Media operated as a United States-based digital media holding company headquartered in New York City. Its portfolio featured prominent brands including Thrillist, NowThis, The Dodo, and Seeker. These entities, together with the former brand SourceFed, consolidated to establish Group Nine Media in October 2016.[1] The company further broadened its reach by acquiring PopSugar in October 2019.Cite error: The opening <ref> tag is malformed or has a bad name
In December 2020, Group Nine initiated a corporate SPAC aimed at facilitating mergers, stock swaps, and various business combinations.Cite error: The opening <ref> tag is malformed or has a bad name Subsequently, in December 2021, Vox Media declared its intention to acquire Group Nine,[2] finalizing the acquisition by February 2022 and incorporating Group Nine into its organizational structure.Cite error: The opening <ref> tag is malformed or has a bad name
Ownership
During the 2016 merger, Discovery Communications invested $100 million for a minority stake, becoming the largest shareholder, surpassing Axel Springer, and securing an option to increase its ownership to a majority position later on. In 2017, Discovery spearheaded a $40 million capital raise for the digital media firm. By 2019, Group Nine Media obtained an additional $50 million in financing led by Discovery and Axel Springer.
Ben Lerer, who founded Thrillist and serves as managing director of Lerer Hippeau Ventures, held the role of CEO at Group Nine Media.
On December 13, 2021, Vox Media announced its acquisition agreement with Group Nine Media, which was completed on February 22, 2022.
External links
- Pages with reference errors
- Articles with short description
- Vox Media
- 2016 establishments in New York City
- 2022 mergers and acquisitions
- Former Discovery, Inc. subsidiaries
- American companies established in 2016
- American companies disestablished in 2022
- Holding companies based in New York City
- Mass media companies based in New York City
- Mass media companies established in 2016