×
You will be redirected back to your article in seconds

Vice May Be Looking to Raise Another $200 Million (Report)

Vice Media is looking to raise a new $200 million in funding, according to a report from the Information. The news comes just weeks after Vice laid off around 250 staffers.

Vice didn’t immediately respond to a request for comment.

The company is looking to raise the new funding as it is working toward profitability, according to the new report, which also states that the cash influx is likely going to be a mix of equity and debt financing.

Vice has raised a total of $1.4 billion across several rounds, most recently adding $450 million in summer of 2017. That funding round valued the company $5.7 billion, but its valuation has since declined significantly: Disney disclosed a $157 million write-down on its stake in Vice late last year.

Like other venture-funded media companies, Vice has struggled to meet its revenue goals. The Wall Street Journal reported late last year that Vice expected to bring in $600 to $650 million in revenue for the year, which is about the same it generated in 2017, and $100 million short of its original goal for the year.

While announcing last month’s layoffs, Vice CEO Nancy Dubuc signaled that she was looking for a turn-around. “Having finalized the 2019 budget, our focus shifts to executing our goals and hitting our marks,” she said in a memo to employees. Dubuc’s strategy is said to include an increased focus on film and TV production as well as branded content, and less engagement in online media.

More Digital

  • Snap-Derek-Andersen-Lara-Sweet

    Snap Fills Out Senior Ranks With CFO, HR Chief Appointments

    Snap CEO and co-founder Evan Spiegel turned in house to fill the company’s CFO and head of human resources positions, completing an overhaul of the Snapchat parent’s executive ranks after a series of departures. The company announced the appointment of Derek Andersen, currently Snap’s VP of finance, as chief financial officer. Andersen will take over [...]

  • Oculus Quest Gets Netflix App, But

    Oculus Quest Will Have Netflix, but Not Plex or HBO

    Facebook’s new Oculus Quest headset is launching with a number of high-profile gaming titles this Tuesday. Media apps on the other hand will take a bit of backseat, with some key players sitting this latest headset out for the time being. First, the good news for anyone who has pre-ordered the headset: One of the [...]

  • Lester Holt

    Chris Berend Tapped to Oversee NBC News' Digital Efforts

    Chris Berend, an executive who has been overseeing digital video for CNN and helped launch Great Big Story, a streaming-video site aimed at younger audiences, will jump to NBC News to lead its digital efforts. Berend will replace Nick Ascheim, who will move into a new role that is described as “improving digital and product [...]

  • Vogue, Conde Nast Entertainment Make Robert

    Robert Semmer Joins Condé Nast Entertainment & Vogue as Vice President of Video

    Condé Nast Entertainment and Vogue have named former Vice and Fader video executive Robert Semmer as their new vice president of video. Semmer will be based in New York and report to Croi McNamara, senior vice president of programming for Condé Nast Entertainment. “Anna and I are thrilled to welcome Robert to our award-winning video [...]

  • CEO of T-Mobile John Legere (L)

    FCC Chairman Backs T-Mobile, Sprint Merger With New Conditions

    FCC Chairman Ajit Pai gave a thumbs-up to T-Mobile and Sprint’s proposed $26 billion merger, after the companies committed to enhanced 5G buildout commitments and agreed to spin off Sprint’s Boost Mobile. T-Mobile and Sprint first announced their plans to merge in April 2018, looking to combine forces to take on industry leaders AT&T and [...]

  • Tyffon Raises $7.8M, Prepares Launch of

    Disney-Backed VR Startup Tyffon Raises $7.8 Million (EXCLUSIVE)

    Disney-backed immersive media startup Tyffon has raised a new $7.8 million Series A round of funding. The company wants to use the new cash infusion for an international expansion that includes the opening of a Santa Monica, Calif.-based virtual reality (VR) center. “We will also accelerate our IP licensing activities with major Hollywood studios,” Tyffon [...]

More From Our Brands

Access exclusive content