| Group Nine Media, Inc. | |
| Type: | Privately held company |
| Founder: | Ben Lerer |
| Predecessor: | Discovery Digital Networks |
| Successor: | Vox Media |
| Fate: | Acquired by and folded into Vox Media |
| Location City: | New York City, U.S.[1] |
| Key People: | Ben Lerer (CEO) Brian Sugar (President) |
| Num Employees: | 415+ (2016) |
| Subsid: | The Dodo JASH NowThis PopSugar Seeker Thrillist |
| Footnotes: | https://www.axios.com/group-nine-popsugar-joint-leadership-team-6c53b3ad-2242-4179-a854-dbd6bb424e67.html |
Group Nine Media was an American digital media holding company based in New York City. The company comprises Thrillist, NowThis, The Dodo, and Seeker.[2] [3] The four brands, and former brand SourceFed, merged to form Group Nine Media in October 2016.[4] In October 2019, Group Nine Media acquired PopSugar.[5] In December 2020, Group Nine formed its own corporate SPAC to use the public funding for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination.[6] In December 2021, Vox Media announced its intention to acquire Group Nine.[7] The transaction was completed in February 2022, and Group Nine was folded into Vox Media.[8]
At the time of the 2016 merger, Discovery Communications announced a $100 million minority investment in the collective organization, becoming the biggest shareholder before Axel Springer. Discovery also acquired the right to obtain a majority stake later if it so chooses.[4] In 2017, Discovery led a $40 million funding round in the d "igital media company.[9] Group Nine Media raised $50 million in new funding in 2019, led by its lead investor Discovery along with participation from German publishing firm Axel Springer.[10]
Ben Lerer, founder of Thrillist and managing director of Lerer Hippeau Ventures, is CEO of Group Nine Media.[11]
On 13 December 2021, it was announced that Vox Media would acquire Group Nine Media.[7] The acquisition was completed on 22 February 2022.[12]