×
You will be redirected back to your article in seconds

Media Startup Axios Banks $20 Million From Investors Including Jeffrey Katzenberg’s WndrCo

News startup Axios has raised a $20 million round of second-round funding from a range of investors, including WndrCo, the tech and media investment company formed by Jeffrey Katzenberg, Ann Daly and Sujay Jaswa.

Axios was founded last year by a trio of defectors from Politico: CEO Jim VandeHei, who was Politico’s co-founder of Politico; Mike Allen, formerly Politico’s chief White House correspondent; and Roy Schwartz, Politico’s chief revenue officer.

The funding brings Axios to a total raised of $30 million. The latest round was led by VC firms Greycroft Partners and Lerer Hippeau Ventures, with participation from WndrCo and prior investors including NBCUniversal, and Laurene Powell Jobs’s Emerson Collective.

Axios covers news in politics, technology, business, health care, science and energy, with a blog-like site design and an emphasis on data-driven stories. The startup styles itself as some kind of disruptor: “All of us left cool, safe jobs to start a new company with this shared belief: Media is broken — and too often a scam,” Axios says in its “manifesto.”

With the funding, Axios plans to build out its staff. The company currently has 89 employees and plans to increase its headcount to around 150 people by the end of 2018, according to the Wall Street Journal, which first reported the Axios funding.

The vote of confidence in Axios’ business and strategy comes as other digital-media players are struggling. Mashable reportedly has agreed to sell itself to Ziff Davis for $50 million — a fraction of its previous valuation — and BuzzFeed will miss its 2017 revenue goal by up to 20%, the Journal reported Thursday.

More Digital

  • Amazon Prime

    Amazon Prime India Greenlights ‘Bandits’ Music Series

    Amazon Prime Video India has greenlit original series “Bandish Bandits.” The show is a musical created by Still and Still Media Collective. The series will follow an Indian classical musician bound by tradition and a pop star whose performance skills are greater than her talent. A bandish is a term used to describe a musical [...]

  • Alibaba Buys 8% Stake in Chinese

    Alibaba Buys 8% Stake in Chinese Video Platform Bilibili

    Alibaba has purchased an 8% stake in the Chinese online video platform Bilibili, the official Xinhua news agency reported. Bilibili is one of China’s top video streaming and entertainment platforms, with about 92 million monthly active users and 450 million page-views per day. Founded in 2009, it was listed on the NASDAQ last March. Alibaba’s [...]

  • Clevver-Logo

    Hearst Magazines Buys Clevver's Pop-Culture YouTube Channels After Defy's Demise

    Hearst Magazines has snapped up Clevver, a network of female-skewing lifestyle and pop-culture news YouTube channels that had been owned by now-defunct Defy Media. Clevver was left homeless after Defy’s sudden shutdown in November; its principals said at the time they were looking for a new home. Hearst Magazines sees a digital fit with Clevver’s [...]

  • "Brother" -- Episode 201-- Pictured (l-r):

    CBS Interactive's Marc DeBevoise on Streaming Boom, Content Strategy, and Apple

    Not everyone wants or needs to be Netflix to succeed in the streaming space. And not everyone sees Apple’s enigmatic new service as a threat. Even as rival streaming services offer gobs of content, CBS Interactive’s president and COO Marc DeBevoise sees the company’s targeted original programming strategy continuing to attract viewers to its All [...]

  • Rhett-Link-Good-Mythical-Morning

    Rhett & Link's Mythical Entertainment in Talks to Acquire Smosh (EXCLUSIVE)

    Smosh, the YouTube comedy brand left stranded after parent company Defy Media went belly-up, may be about to get a new business partner. Mythical Entertainment, the entertainment company founded by top YouTube comedy duo Rhett & Link, has been in talks about acquiring the Smosh brand, sources told Variety. Multiple potential buyers came forward to [...]

  • Pokemon Go

    Proposed 'Pokémon Go' Lawsuit Settlement May Remove Poké Stops, Gyms

    A proposed settlement in the class action lawsuit against “Pokémon Go” developer Niantic could remove or change a number of Poké Stops and Gyms in the popular augmented reality game. The proposed settlement was filed in a California court on Thursday and applies to anyone in the U.S. who owns or leases property within 100 meters [...]

More From Our Brands

Access exclusive content