Publishing News

Group Nine Media Raises $50 Million from Discovery, Axel Springer

The move could signal acquisitions to come

Logos from Group Nine, The Dodo, Now This, Seeker, Thrillist, and Brandshop
The digital publisher of Thrillist, The Dodo and other sites seeks to raise $200 million.Group Nine Media
sara.jerde
By Sara Jerde

Group Nine Media just raised $50 million from lead investor Discovery Inc. and partner Axel Springer SE, the company announced Monday.

The digital media holding company also hinted that acquisitions may be on the horizon with the new increase in funds.

Discovery initially invested $100 million in the publisher, which specializes in video content, back in December 2016 when it was created. Now, the brand includes verticals NowThis (news), The Dodo (animals), Thrillist (food, travel) and Seeker (tech).

Axel Springer SE also has already invested in the company, having given a joint $40 million along with Lerer Hippeau in November 2017.

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sara.jerde

Sara Jerde

Sara Jerde is publishing editor at Adweek, where she covers traditional and digital publishers’ business models. She also oversees political coverage ahead of the 2020 election.

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