Group Nine Media

{{short description|American digital media holding company}}

{{Infobox company

| name = Group Nine Media, Inc.

| logo = Group Nine Media Logo.svg

| logo_size = 100px

| type = Privately held company

| founder = Ben Lerer

| predecessor = Discovery Digital Networks

| successor = Vox Media

| foundation = {{Start date and age|2016|10}}

| defunct = {{Start date and age|2022|2|22}}

| fate = Acquired by and folded into Vox Media

| location_city = New York City, U.S.{{cite web | title=Group Nine Media Inc | website=Bloomberg | url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=405113706 | access-date=November 22, 2018}}

| location_country =

| key_people = Ben Lerer (CEO)
Brian Sugar (President)

| num_employees = 415+ (2016)

| subsid = The Dodo
JASH
NowThis
PopSugar
Seeker
Thrillist

| homepage = {{URL|http://www.groupninemedia.com}}

| footnotes = https://www.axios.com/group-nine-popsugar-joint-leadership-team-6c53b3ad-2242-4179-a854-dbd6bb424e67.html

}}

Group Nine Media was an American digital media holding company based in New York City. The company comprises Thrillist, NowThis, The Dodo, and Seeker.{{cite web|url=https://www.adweek.com/digital/group-nine-medias-newfront-was-all-about-obsession/|title=Group Nine Media's NewFront Was All About Obsession|last=Sternberg|first=Josh|date=May 3, 2018|website=Adweek – Breaking News in Advertising, Media and Technology|access-date=November 22, 2018}}{{cite web|url=https://www.tubefilter.com/2018/05/03/seeker-universe-group-nine-media/|title=Seeker's New Space Channel Headlines Group Nine Media's Slate Of Fresh Content|last=Gutelle|first=Sam|date=May 3, 2018|website=Tubefilter|access-date=November 22, 2018}} The four brands, and former brand SourceFed, merged to form Group Nine Media in October 2016.{{cite news|url=http://adage.com/article/media/digital-publishers-group-media/306278/ |title=Digital Publishers Come Together as Group Nine Media, Backed by $100 Million From Discovery |newspaper=AdvertisingAge |first=Jeremy |last=Barr |date=October 13, 2016}} In October 2019, Group Nine Media acquired PopSugar.{{Cite news|url=https://www.nytimes.com/2019/10/07/business/popsugar-group-nine-deal.html|title=PopSugar Acquired by Group Nine Media in Latest Digital Media Deal|last1=Tracy|first1=Marc|date=2019-10-07|work=The New York Times|access-date=2019-10-08|last2=Lee|first2=Edmund|language=en-US|issn=0362-4331}} 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.{{Cite web|last=Ha|first=Anthony|date=15 January 2021|title=Group Nine's SPAC goes public|url=https://techcrunch.com/2021/01/15/group-nines-spac-goes-public/|website=Tech Crunch}} In December 2021, Vox Media announced its intention to acquire Group Nine.{{cite web |title=Vox Media to Merge with Group Nine, Home to Leading Collection of Multi-Platform Media Brands |url=https://www.groupninemedia.com/press/vox-media-to-merge-with-group-nine-home-to-leading-collection-of-multi-platform-media-brands |website=Group Nine Media |access-date=2 February 2022}} The transaction was completed in February 2022, and Group Nine was folded into Vox Media.{{cite web | url=https://www.voxmedia.com/2022/2/22/22945736/vox-media-completes-acquisition-of-group-nine | title=Vox Media Completes Acquisition of Group Nine | date=22 February 2022 }}

Ownership

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. In 2017, Discovery led a $40 million funding round in the d "igital media company.{{Cite web|last=Smith|first=Gerry|date=28 November 2017|title=Discovery Leads $40 Million Round for Thrillist Owner Group Nine|url=https://www.bloomberg.com/news/articles/2017-11-28/discovery-leads-40-million-funding-round-for-thrillist-owner?sref=lYfG43Al|website=Bloomberg}} 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.{{Cite web|last=Spangler|first=Todd|date=2019-09-09|title=Group Nine Raises $50 Million From Discovery, Axel Springer|url=https://variety.com/2019/digital/news/group-nine-50-million-funding-discovery-axel-springer-1203328448/|access-date=2021-11-03|website=Variety|language=en-US}}

Ben Lerer, founder of Thrillist and managing director of Lerer Hippeau Ventures, is CEO of Group Nine Media.{{cite web|url=https://www.cnbc.com/2018/11/17/subscription-news-services-flourish-as-google-facebook-dominate-ads.html|title=How a new breed of media companies is convincing people to pay for news again|last=Sherman|first=Alex|date=November 17, 2018|website=CNBC|access-date=November 22, 2018}}

On 13 December 2021, it was announced that Vox Media would acquire Group Nine Media. The acquisition was completed on 22 February 2022.{{cite web | url=https://www.voxmedia.com/2022/2/22/22945736/vox-media-completes-acquisition-of-group-nine | title=Vox Media Completes Acquisition of Group Nine | date=22 February 2022 }}

References

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