The SPAC is not part of the deal with Vox according to Variety. “Together we will be an even stronger, more financially sustainable company that can invest more in our products and our people.”Įarlier this year Group Nine formed a special purpose acquisition company for the purposes of going public. “The business rationale behind this merger is to grow revenue, increase scale, and combine these incredibly powerful and complementary portfolios,” Vox Media CEO Jim Bankoff wrote in an all-staff email.
/cdn.vox-cdn.com/uploads/chorus_image/image/63701622/codemediasanfrancisco-1991.0.1537362525.0.jpg "jim bankoff vox media")
Vox Media Chief Executive Officer Jim Bankoff would run the combined company. If the all-stock deal goes through, Vox Media would own 75% of the company while Group Nine would own 25%. According to The Journal, Vox Media has been considering different ways to raise money, including a potential IPO.
#JIM BANKOFF VOX MEDIA PROFESSIONAL#
We aspire to be a platform for creating professional media brands at scale and also for brand advertising at scale.”įor Bankoff, it's this overall platform approach that has led to Vox Media's success a tech-driven media approach apropos of our incessantly changing digital landscape.If successful, the merger represents a major shift for Vox Media, which has been growing over the course of the past months and years. Or Nextflix, which is a platform for film entertainment. Or Amazon, which is a platform for e-commerce. If you think of the great platforms of our time: Facebook, which is a platform for self-expression. And Chorus really became the company's primary asset. But in order to do that at scale, needed a product platform…So, we developed one – it's called ‘Chorus'. “The notion was: let's go after these topical points of passion for people.
/cdn.vox-cdn.com/uploads/chorus_image/image/71013517/Untitled_3.0.jpg "jim bankoff vox media")
While Bankoff attributes Vox Media's successes on the creation of overall digital experiences, he admits that none of these accomplishments would be possible had the company not gone out of its way to create its own platform for its media channels. That storytelling has to be aided and assisted – from outstanding design to excellent user interactions UX, to great writing, great photography, great ways of finding an audience – whether that's social or direct.” So, how does Vox Media do it? How does it continue to thrive in the hyper-competitive landscape of digital media? Storytelling. There are also stark differences between the consumption of online content versus in print content, so you have to adapt to those. The online media landscape has changed since his days at AOL, and the mere production of content – even really great content – is a bad strategy when you consider the constant changes taking place online.
“The product is really the overall experience, though – which is inclusive of what's written on a page, what film or video's on a page, what advertising's on the page, what interactions to do…You know, it's an experience.”Īccording to Bankoff, content is just one aspect of the media game. “I'd say that content is part of the product,” said Bankoff. At last Wednesday's Tech Cocktail DC Sessions event, chairman and CEO of Vox Media, Jim Bankoff, revealed that the secret to the company's growth: despite being a media company, he doesn't consider content to be their product. With popular websites from the the likes of Eater and Curbed to The Verge and Vox, the company's successful development of topical media content has allowed them to outpace more traditional publications on the Web competing in the similar markets. Since its founding in 2011, Vox Media has quickly become one of the leading digital media companies.
0 kommentar(er)
