Vox Media Acquires Curbed For Between $20M And $30M
Vox Media is the parent company of websites like SBNation.com, TheVerge.com, and Polygon.com. Vox Media has agreed to buy Curbed Network for between $20 million and $30 million to expand their editorial operations. Curbed was founded in 2004 by Lockhart Steele. Curbed has three news and blog websites, which are Curbed.com, Eater.com, and Racked.com. Curbed focuses on real estate, Eater focuses on food, and Racked focuses on shopping.
Based in Washington D.C., Vox Media raised $34 million in funding from investors last month and has been considering expansion into other topics.
Steele worked as an editorial director at Gawker Media and started Curbed in 2004 to focus on real estate in New York. Eater.com launched one year later to focus on restaurants and food. Racked.com launched in 2007.
Some of Curbed’s angel investors include NetSuite CEO Zach Nelson, Mo Koyfman (Spark Capital), and Nick Denton (Gawker Media).
[Source: AllThingsD]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry