Vox Media closes $46.5 million investment round. Jim Bankoff had this to say, courtesy of Recode:
Bankoff says the money is a sign investors are buying his pitch: He says Vox represents a new breed of content company, which can take advantage of the tech-inflected turmoil established companies are going through. “Things are starting to unbundle,” he says. “Magazines and newspapers are starting to be disrupted. Cable networks are next. I think a lot of investors look around and say ‘This is a new opportunity.’”
It’s interesting given that Say Media just stepped out of the “content and tech” game. Meanwhile, Vox Media is closing in on turning a profit next year. The difference is clearly the editorial products and if not their quality, so at least their profitability.