What Vox Plans to Do With Its Latest Round of Funding
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Digital-media companies continue to build up their war chests.
Earlier this year Vice added $500 million and BuzzFeed took in $50 million, and now Vox Media has raised $46.5 million from equity investment firm General Atlantic. The latest funding round comes a year after the company raised $34 million and values Vox at $380 million, according to a person familiar with the matter and confirming a Re/code report.
As with Vice and BuzzFeed, Vox plans to put the money toward producing more content, with a heavy emphasis on video, and advancing the technology behind creating and distributing that content and ads on its seven sites. But in a new twist, Vox also plans to use its technology to begin aiming that content and those ads outside of its own properties.
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