Vox media net worth8/15/2023 ![]() Executives plan to quietly let the SPAC expire, sources said. Insiders have also realized taking a digital media company public is fraught with peril since it means revealing the inner workings publicly. However, a year later they still haven’t found a target and the special purpose acquisition company has 12 months before it expires - unless they add more money to the deal. Separately, Group Nine launched a blank-check company, Nine Acquisition Corp., in December 2020 - intent on finding a media target to combine with Group Nine. “Digital media publishing is getting harder by the day.” “All these companies are in trouble and challenged,” LightShed Partners analyst Rich Greenfield told The Post. ![]() Given Buzzfeed’s performance, Group Nine insiders likely are breathing a sigh of relief that their deal was private - and the public markets won’t be their to beat down their shares. Insiders are breathing a sigh of relief their deal is private and the market won’t call their bluff. “Still, I’d rather be in Group Nine’s position than Buzzfeed right now,” the source said of the onetime digital wunderkind that went public via a SPAC deal in early December since then, its stock has tanked by more than 40 percent. “In this current market environment, the deal between Group Nine and Vox is like two drunks leaning together to stand up,” a source said. The bloom is largely off the rose when it comes to digital media companies, industry watchers said. “It’s very telling that in no place they mention a dollar value for the combined company,” one insider said of the announcement of the tie-up. Likewise, Vox - which was valued at $1 billion in its last funding round in 2015 - was valued at approximately $672 million, according to sources close to the deal.Īdd up the latest figures and you get roughly $896 million - short of the $1 billion “unicorn” status that each company had hoped to achieve on its own. Sources say Group Nine’s worth has slumped to $225 million, less than half the $585 million it touted in 2016 when it got a $100 million investment from Discovery. Vox Media and Group Nine are keeping the value of their merger private - and that may be because the number isn’t as eye-popping as digital media darlings once commanded, On The Money has learned. Group Nine’s video news site NowThis says it has unionized " Revealed: Our Most Admired Business Leader over 50 Years.Vox Media agrees to buy Group Nine in all-stock dealĬNN’s Jeff Zucker joins the board of Group Nine’s acquisition company " Branson Beats Obama as Celebrity Dream Boss." " Richard Branson - Bloomberg Billionaires Index."Ĭancer Research UK. " What Does the Branson Centre of Entrepreneurship, Caribbean Do?"īloomberg. “ Introducing Our Next Mission: Above the Clouds.” “ Virgin Galactic Announces First Quarter 2022 Financial Results.” “ Virgin Galactic Successfully Completes First Fully Crewed Spaceflight.” “ In-Flight Breakup During Test Flight Scaled Composites SpaceShipTwo, N339SS Near Koehn Dry Lake, California October 31, 2014,”. 7 to Form S-1 Registration Statement: Virgin Mobile USA, Inc.,” Page F-7. ![]() Deutsche Telekom AG, T-Mobile US, Inc., Softbank Group Corp., and Sprint Corporation,”. “ United States of America et al., Plaintiffs, v. District Court for the District of Columbia. " British Airway to Pay for 'Dirty Tricks.'" ![]() "Richard Branson: Virgin Megabrand Mogul,". "Richard Branson: Virgin Megabrand Mogul," Pages 21-22. "Organizing Entrepreurship," Pages 65-66. ![]() Wiley, 2007.Īnna Grandori and Gaillard Giordani. "The Flamboyant Life of Richard Branson,". ![]()
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