Minute Media, a media and tech company that recently acquired Derek Jeter’s The Players’ Tribune, just raised $40 million in venture capital funding.
Minute Media’s portfolio of brands includes 90min, DBLTAP, 12up, Mental Floss (which it acquired in 2018), The Big Lead (acquired last year) and FanSided (acquired earlier this year). Despite the challenges facing the media industry, Minute Media has raised $160 million in total funding.
The digital media industry has been built with “shiny objects” that have attracted series A and series B funding, said Rich Routman, president, CRO at Minute Media.
“We’ve built practicality,” Routman said, later adding, “The publishing business is a tech-first business and when you can layer great brands on top of the tech, that’s when we really start to see the value.”
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