Axios (website) explained

Axios
Collapsible:yes
Employees:500 (2022)[1]
Commercial:Yes
Type:News
Language:English
Owner:Cox Enterprises
Current Status:Active
Advertising:Native

Axios (stylized as ΛXIOS) is an American news website based in Arlington, Virginia. It was founded in 2016 and launched the following year by former Politico journalists Jim VandeHei, Mike Allen, and Roy Schwartz. The site's name is based on the Greek, Modern (1453-);: ἄξιος, meaning "worthy".[2]

Axioss articles are often brief to facilitate quick reading; most are shorter than 300 words and use bullet points. In addition to news articles, Axios produces daily and weekly industry-specific newsletters (including Allen's Axios AM, a successor to his newsletter Politico Playbook for Politico), and two daily podcasts.

On September 1, 2022, Cox Enterprises completed its acquisition of Axios.[3]

History

VandeHei said he wanted Axios to be a "mix between The Economist and Twitter".[4] The company initially covered a mix of business, politics, technology, health care, and media. VandeHei said Axios would focus on the "collision between tech and areas such as bureaucracy, healthcare, energy, and the transportation infrastructure". At launch, Nicholas Johnston, a former managing editor at Bloomberg L.P., was named editor-in-chief.[5]

In 2016, Axios secured $10 million in a round of financing led by Lerer Hippeau Ventures. Backers include media-partner NBC News, Laurene Powell Jobs' Emerson Collective, Greycroft Partners, and David and Katherine Bradley, owners of Atlantic Media. The company had raised $30 million .[6] It planned to focus on "business, technology, politics, and media trends". Axios generates revenue through short-form native advertising and sponsored newsletters.[7] It earned more than $10 million in revenue in its first seven months.

In January 2017, Axios hired as an executive vice president Evan Ryan, the Assistant Secretary of State for Educational and Cultural Affairs and a former staffer for Vice President Joe Biden.[8] Axios had 6 million unique visitors in September 2017, according to Comscore., Axios said it had 200,000 subscribers to 11 newsletters, with an average open rate of 52 percent. The same month, it said it would use a new $20 million investment to expand data analysis, product development, fund audience growth, and increase staff to 150, up from 89.[9]

In March and April 2019, HuffPost and Wired reported that Axios had paid a firm to improve its reputation by lobbying for changes to the Wikipedia articles on Axios and Jonathan Swan.[10] [11]

In July 2020, Axios received $4.8 million in federal loans from the Paycheck Protection Program for salary replacement during the COVID-19 pandemic. It later returned the money, with VandeHei explaining that the loans had become "politically polarizing".[12] In September 2020, The Wall Street Journal reported that Axios was on track to be profitable in 2020 "despite the economic turmoil stemming from the coronavirus that led to broad layoffs and pay cuts at many media outlets".[13]

In May 2021, The Wall Street Journal reported that merger discussions between Axios and The Athletic had ended, with The Athletic opting to pursue a deal with The New York Times.[14]

On August 8, 2022, Axios announced that it had been sold to Cox Enterprises for $525 million.[15] [16] According to the deal, Cox owns 70% of the company, while Axios employees and its founders retain ownership of the remaining 30%. The acquisition was completed the following month.

In March 2023, Axios fired Ben Montgomery, a Pulitzer Prize finalist, after he described a press release about a Ron DeSantis event "exposing the diversity equity and inclusion scam in higher education" as "propaganda" in an email reply.[17]

In August 2024, Axios laid off 50 employees, which amounted to 10% of total staff.[18]

Content

Axioss content is designed for digital platforms, such as Facebook and Snapchat, as well as its own website. Its articles are typically less than 300 words long.[19] In addition to its website, Axios content is distributed via newsletters covering politics, technology, healthcare, and other subjects.[20] Among the newsletters is a daily report by co-founder Mike Allen, who formerly wrote Politicos Playbook newsletter. Some Axios newsletters are free, while others are paid. The company sells a subscription service called Axios Pro, which bundles several paid newsletters, starting at $599 a year.

Axios's reporters have made appearances on television news on NBC News and MSNBC through a deal with NBC. Its NBC Universal partnership has featured co-founder Mike Allen on MSNBC's show Morning Joe.[21] [22]

According to a 2020 Knight Foundation study, Axios is generally read by a moderate audience, leaning slightly toward the left.[23] Ground News, AllSides, and Media Bias/Fact Check, have all rated Axios as having a "lean left" bias.[24]

In 2021, the documentary series Axios on HBO won the News and Documentary Emmy Award for Outstanding Interview for its interview of President Donald Trump conducted by Jonathan Swan.[25]

See also

Notes and References

  1. News: Axios, valued at $525 million, to be sold to Cox Enterprises in major media deal . 2022-08-08 . Farhi . Paul . . subscription . October 19, 2022 . August 13, 2022 . https://web.archive.org/web/20220813015908/https://www.washingtonpost.com/media/2022/08/08/axios-cox-sale/ . live .
  2. Web site: Ellison. Sarah. Sarah Ellison. 2016-11-30. Exclusive: Mike Allen and Jim VandeHei Reveal Their Plan for Media Domination. live. https://web.archive.org/web/20181204045748/https://www.vanityfair.com/news/2016/11/mike-allen-and-jim-vandehei-reveal-their-plan-for-media-domination-axios. 2018-12-04. 2020-09-15. Vanity Fair. en-us.
  3. Web site: September 15, 2022 . Following $525 million sale, Clarendon-based Axios aims to make its local newsletters ubiquitous . . October 18, 2022 . October 18, 2022 . https://web.archive.org/web/20221018054727/https://www.arlnow.com/2022/09/15/following-525-million-sale-clarendon-based-axios-aims-to-make-its-local-newsletters-ubiquitous/ . live .
  4. News: Axios and Donald Trump Are Made For Each Other. Shephard. Alex. 2017-05-02. The New Republic. 2019-05-18. 0028-6583. June 27, 2019. https://web.archive.org/web/20190627201520/https://newrepublic.com/article/142441/axios-donald-trump-made. live.
  5. News: Politico Co-Founder Jim VandeHei to Launch News Venture for Professionals . Alpert . Lukas I. . September 6, 2016 . The Wall Street Journal . New York . November 27, 2017 . November 27, 2017 . https://web.archive.org/web/20171127010816/https://www.wsj.com/articles/politico-co-founder-jim-vandehei-to-launch-news-venture-for-professionals-1473201458 . live .
  6. News: Axios and Donald Trump Are Made For Each Other. Shephard. Alex. May 2, 2017. New Republic. May 14, 2017. en-US. June 27, 2019. https://web.archive.org/web/20190627201520/https://newrepublic.com/article/142441/axios-donald-trump-made. live.
  7. News: Why Axios Is Betting Big on Native Content, Sponsored Events and Branded Newsletters . Sutton . Kelsey . November 20, 2018 . March 26, 2019 . AdWeek . October 26, 2020 . https://web.archive.org/web/20201026110510/https://www.adweek.com/digital/why-axios-is-betting-big-on-native-content-sponsored-events-and-branded-newsletters/ . live .
  8. News: Jim VandeHei and Mike Allen Bring on Washington Insiders to Help Run Axios. Fox. Emily Jane. The Hive. November 27, 2017. en. January 3, 2017. December 11, 2020. https://web.archive.org/web/20201211041743/https://www.vanityfair.com/news/2017/01/jim-vandehei-and-mike-allen-hire-washington-insiders-to-run-axios. live.
  9. News: Axios Raises $20 Million to Fund Newsroom Expansion . Mullin . Benjamin . November 17, 2017 . The Wall Street Journal . November 27, 2017 . June 8, 2021 . https://web.archive.org/web/20210608114909/https://www.wsj.com/articles/axios-raises-20-million-to-fund-newsroom-expansion-1510853567 . live .
  10. News: Facebook, Axios And NBC Paid This Guy To Whitewash Wikipedia Pages. Feinberg, Ashley. Ashley Feinberg. March 14, 2019. May 17, 2019. HuffPost. April 8, 2019. https://web.archive.org/web/20190408121951/https://www.huffpost.com/entry/wikipedia-paid-editing-pr-facebook-nbc-axios_n_5c63321be4b03de942967225. live.
  11. Cohen . Noam . Noam Cohen . Want to Know How to Build a Better Democracy? Ask Wikipedia . . April 7, 2019 . May 17, 2019 . April 8, 2019 . https://web.archive.org/web/20190408021128/https://www.wired.com/story/want-to-know-how-to-build-a-better-democracy-ask-wikipedia/ . live .
  12. News: Farhi . Paul . Axios returns coronavirus bailout loan as news organizations grapple with the ethics of taking government funds . 9 March 2021 . The Washington Post . 29 April 2020 . subscription . November 28, 2020 . https://web.archive.org/web/20201128025436/https://www.washingtonpost.com/lifestyle/media/should-news-organizations-take-coronavirus-bailout-loans-while-some-fear-a-conflict-of-interest-many-are-desperate-for-cash/2020/04/29/0b767830-88cf-11ea-8ac1-bfb250876b7a_story.html . live .
  13. News: Axios Is Growing and Profitable Despite Bleak News Landscape . 30 September 2020 . Lukas . Alpert . The Wall Street Journal . New York . October 2, 2020 . June 7, 2021 . https://web.archive.org/web/20210607205330/https://www.wsj.com/articles/digital-news-startup-axios-weathers-covid-with-sponsored-newsletters-11601463601 . live .
  14. Web site: The Athletic Halts Merger Talks With Axios, Eyes New York Times. 6 May 2021. The Wall Street Journal. Benjamin. Mullin. May 11, 2021. June 3, 2021. https://web.archive.org/web/20210603103938/https://www.wsj.com/articles/sports-media-outlet-the-athletic-shifts-its-search-for-merger-partner-11620317675. live.
  15. Web site: Axios Agrees to Sell Itself to Cox Enterprises for $525 Million . August 8, 2022 . Mullin . Benjamin . The New York Times . August 8, 2022 . August 27, 2022 . https://web.archive.org/web/20220827204419/https://www.nytimes.com/2022/08/08/business/media/axios-cox-enterprises.html . live .
  16. Web site: Benton . Joshua . Joshua Benton . August 9, 2022 . Axios sells for $525 million, to a company that seemed to be getting out of the media business . 2022-08-17 . . August 20, 2022 . https://web.archive.org/web/20220820170035/https://www.niemanlab.org/2022/08/axios-sells-for-525-million-to-a-company-that-seemed-to-be-getting-out-of-the-media-business/ . live .
  17. News: Fla. reporter fired after calling news release on DeSantis event 'propaganda' . https://archive.today/20230316120546/https://www.washingtonpost.com/media/2023/03/15/axios-reporter-ben-montgomery-fired/ . . March 15, 2023 . subscription . March 16, 2023 . March 16, 2023.
  18. News: Robertson . Katie . 2024-08-06 . Axios Laying Off 10% of Staff . 2024-08-07 . The New York Times . en-US . 0362-4331.
  19. News: Media startup Axios raises another $20 million . Dillet . Romain . . November 17, 2017 . November 27, 2017 . June 8, 2021 . https://web.archive.org/web/20210608114905/https://techcrunch.com/2017/11/17/media-startup-axios-raises-another-20-million/ . live .
  20. Web site: Robertson . Katie . April 11, 2024 . Axios Sees A.I. Coming, and Shifts Its Strategy . New York Times.
  21. News: NBC boosts Axios out of the gate . Wemple . Erik . January 24, 2017 . The Washington Post . December 29, 2017 . subscription . March 22, 2022 . https://web.archive.org/web/20220322211939/https://www.washingtonpost.com/blogs/erik-wemple/wp/2017/01/24/nbc-boosts-axios-out-of-the-gate/ . live .
  22. Web site: Mike Allen: Axios Is For What You Would Talk About With Your "Smart Friend". realclearpolitics.com. December 29, 2017. August 14, 2021. https://web.archive.org/web/20210814213422/https://www.realclearpolitics.com/video/2017/01/09/mike_allen_axios_is_for_what_you_would_talk_about_with_your_smart_friend.html. live.
  23. Web site: November 9, 2020. American Views 2020: Trust, Media and Democracy. live . Knight Foundation . 57. https://web.archive.org/web/20200807214000/https://knightfoundation.org/wp-content/uploads/2020/08/American-Views-2020-Trust-Media-and-Democracy.pdf . August 7, 2020 .
  24. Web site: Axios. Ground News. Ground News rates Axios’s media bias as leanLeft..
  25. News: Meade . Amanda . 2021-09-29 . Australian journalist Jonathan Swan wins Emmy for his viral interview with Donald Trump . en-GB . The Guardian . 2023-09-20 . 0261-3077 . September 13, 2023 . https://web.archive.org/web/20230913021214/https://www.theguardian.com/tv-and-radio/2021/sep/29/australian-journalist-jonathan-swan-wins-emmy-for-his-viral-interview-with-donald-trump . live .

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Axios (website)".

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