Group Nine Media was an American digital media holding company based in New York City. The company comprises Thrillist, NowThis, The Dodo, and Seeker.[2][3] The four brands, and former brand SourceFed, merged to form Group Nine Media in October 2016. In October 2019, Group Nine Media acquired PopSugar.[4] In December 2020, Group Nine formed its own corporate SPAC to use the public funding for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination.[5] In December 2021, Vox Media announced its intention to acquire Group Nine. The transaction was completed in February 2022, and Group Nine was folded into Vox Media.[6]
 | |
| Company type | Privately held company |
|---|---|
| Predecessor | Discovery Digital Networks |
| Founded | October 2016; 7 years ago (2016-10) |
| Founder | Ben Lerer |
| Defunct | February 22, 2022; 2 years ago (2022-02-22) |
| Fate | Acquired by and folded into Vox Media |
| Successor | Vox Media |
| Headquarters |
New York City, U.S.[1]
|
Key people | Ben Lerer (CEO) Brian Sugar (President) |
Number of employees | 415+ (2016) |
| Subsidiaries | The Dodo JASH NowThis PopSugar Seeker Thrillist |
| Website | www |
| Footnotes / references https://www.axios.com/group-nine-popsugar-joint-leadership-team-6c53b3ad-2242-4179-a854-dbd6bb424e67.html | |
At the time of the 2016 merger, Discovery Communications announced a $100 million minority investment in the collective organization, becoming the biggest shareholder before Axel Springer. Discovery also acquired the right to obtain a majority stake later if it so chooses.[7] In 2017, Discovery led a $40 million funding round in the digital media company.[8] Group Nine Media raised $50 million in new funding in 2019, led by its lead investor Discovery along with participation from German publishing firm Axel Springer.[9]
Ben Lerer, founder of Thrillist and managing director of Lerer Hippeau Ventures, is CEO of Group Nine Media.[10]
On 13 December 2021, it was announced that Vox Media would acquire Group Nine Media.[11] The acquisition was completed on 22 February 2022.[12]
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