Vox Media, publisher of Ezra Klein’s start-up Vox.com, along with The Verge, SBNation, Eater, among others, just closed a $46.5 million investment deal with General Atlantic, a New York-based firm. The 4-year-old digital media company is now valued at an estimated $380 million, The New York Times first reported.
“The GA investment is an important milestone. We should all take pride in knowing how far we’ve come and have confidence in our ability to go so much farther. The investment doesn’t change anything. It’s about accelerating our momentum,” Vox Media Chairman and CEO Jim Bankoff said in an email published on LinkedIn.
Vox Media’s seven publications together receive a total of 150 million unique visitors each month, according to internal numbers. Meanwhile, Buzzfeed.com, which receives about the same monthly unique visitors, was valued at about $850 million in August, according to CNBC. Both digital companies have far larger audiences than brands like BBC, Bloomberg and The Atlantic.
Vox.com–which hasn’t even been around for a year-reportedly has a monthly audience of 20 million.
“Big, valuable audiences gravitate toward media brands like ours because they are produced by digitally focused talent for digitally focused consumers,” Bankoff said. “There has never been a greater consumption of media than there is now. It’s all working in our favor.”
Vox Media’s deal with General Atlantic comes as more and more venture capitalists are investing in media platforms like Buzzfeed, Business Insider, Vice, PandoDaily and other flourishing digital media companies.