Tracxn - Internet-first Media Startup Landscape

AUGUST 2018
INTERNET-FIRST MEDIA

Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Internet-first Media - Aug 2018
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on August 6, 2018.
Internet-first Media Feed Summary
4
Internet-first Media > Feed Summary
Digital media platforms which create their own content/source through multiple channels (crowdsourced, social, news agencies)
and publish through an editorial team. Information is primarily conveyed through text and aided by video, audio, and images.
• Inclusions: Online-only news portals, aggregators,
podcasts, and media networks.
• Exclusions: Online video, blogging/self-publishing, UGC
platforms which allow self-publishing e.g. Medium.
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$6.7B
Funding
45
Mega
Companies
7974171
FundedCovered on
Tracxn
4
Unicorns
17
Soonicorns
18
Minicorns
28
IPO’d Cos
281
Late Stage Cos
66
32
Acquisitions
288
DeadPooled
247
Acquihired
Series A+ Cos
Times Internet
(1999, Gurgaon)
Perform Group
(1997, Twickenham)
BuzzFeed
(2008, New York City, $497M)
Top Companies

Investment Trend Summary
Summary of Funding Activity in Internet-first Media
5
$585M - Series D
Group Nine Media (2016, New York City,
$625M)
$50M - Series C
NewsDog (2016, Delhi, $50M)
$200M - Series F
BuzzFeed (2008, New York City, $497M)
$45.1M - Series D
DailyHunt (2007, Bangalore, $116M)
$80M - Series B
The Culture Trip (2011, London, $103M)
$45M - Series E
Refinery29 (2004, New York City, $129M)
$70M - Series B
Defy Media (2013, New York City, $70M)
$40M - Series D
$625M)
$50M - Series C
Goop (2008, New York City, $82M)
$40M - Series C
The Players' Tribune (2014, New York City,
$58M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Internet-first Media > Feed Summary > Investment Trend Summary
Seed
Greycroft Partners (#4), Lerer Hippeau Ventures (#4), Comcast
Ventures (#3)
Series A/B
Advancit Capital (#6), Lerer Hippeau Ventures (#6), Greycroft
Partners (#5)
Series C+ GV (#2), Andreessen Horowitz (#1), Accel Partners (#1)
Incubators 500 Startups (#17), Techstars (#6), Y Combinator (#6)
Other Notable
Investors
Axel Springer SE (#8), Knight Foundation (#7), Goldman Sachs
(#4)
Debt Investors Kohlberg Kravis Roberts (#1), Silicon Valley Bank (#1)
Most Active InvestorsRecent Investments
348
386
459 442
170
8
2013 2014 2015 2016 2017 2018*
Y-o-Y # of Companies Founded 96 110 132 112 98 36
$524M $513M
$1.3B $1.3B
$487M
$315M
2013 2014 2015 2016 2017 2018*
$ Funding # Rounds
$5.2B
$390M
$279M
$134M
$94.7M
US
Europe
India
Japan
South
Korea
$ Funding

Summary of exit outlook in Internet-first Media
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Oak Investment
Partners
4
Leaf Group (2006, Santa Monica, $356M)
Bleacher Report (2007, San Francisco, $42.3M)
RRE Ventures 3
Business Insider (2007, New York City, $62.9M)
Allen & Company 2
Vox Media (2003, Washington D.C., $324M)
Comcast Ventures 2
Dotdash (1997, New York City)
SoftBank Group 2
Yahoo (1994, Sunnyvale, $6.8M)
Jun 2017 Yahoo Acq by Verizon for $4.5B
Sep 2015 Business Insider Acq by Axel Springer SE for $442M
May 2015 America Online Acq by Verizon for $4.4B
May 2008 CNET Acq by CBS Corporation for $1.8B
Jun 2007 Aufeminin Acq by Axel Springer SE for $382M
Sep 2006 Incisive Media Acq by Apax Partners for $375M
Nov 2004 MarketWatch Acq by Dow Jones for $528M
Internet-first Media > Feed Summary > Exit Outlook Summary
Verizon 2 Yahoo (Jun 2017, $4.5B), America Online (May 2015, $4.4B)
Axel Springer SE 2
Business Insider (Sep 2015, $442M), Aufeminin (Jun 2007,
$382M)
Ziff Davis 2 Mashable (Dec 2017), IGN Entertainment (Feb 2013)
Apax Partners 1 Incisive Media (Sep 2006, $375M)
Recent IPOs Top Acquisitions
MNCMediaInvestment Sep 2013
Media network which develops content plat…
IPO MCap: $2.1M Current MCap: -
theScore Oct 2012
Mobile first sports news platform
IPO MCap: - Current MCap: -
VIVA Nov 2011
Indonesia-based news portal providing dai…
AudioBoom
Spoken-word audio platform for hosting, d…
Space Jun 2016
News coverage and conversation about spac…
4-Traders Dec 2015
Stock market quotes and news provider
Gloo Networks Aug 2015
Media network focusing on acquiring digit…
Planet Jul 2014
Digital publishing company operating diff…

FACTSHEET
Overview
Companies 4171
Funded 797 Series A+ 281
Funding $6.7B Last 2 yrs $1.9B
Most Active Investors
Seed Greycroft Partners (4)
Series A/B Advancit Capital (6)
Series C+ GV (2)
Others Axel Springer SE (8)
Incubators 500 Startups (17)
Top Cities
NYC 367 Cos $2.4B
Bay Area 211 Cos $936M
Feed in Numbers
Unicorns 4 Soonicorns 17
Minicorns 18 Editor Picks 196
Acquihired 247 Deadpooled 288
Top Companies
Times Internet (1999, Gurgaon)
Perform Group (1997, Twickenham)
Exits
IPOs 28 Gloo Networks, 4-Traders
Acquisitions 32 Yahoo, America Online
Top Acquirers Verizo, Axel Springer SE
Marketmap: Internet-first Media
PUBLISHERS
MULTI-CATEGORY
LIFESTYLE
SPORTS
ENTERTAINMENT
BUSINESS & FINANCE
START-UPS*
CURATED NEWS
AGGREGATORS
UNCURATED NEWS
DIGITAL NEWSSTANDS
PODCASTS
SCIENCE & TECHNOLOGY
MEDIA NETWORK
REGIONAL*
TRADITIONAL
SOCIAL
THEMATIC
DEMOGRAPHIC*
For any Feedback and Query reach out to MyAnalyst@tracxn.com* Upcoming Business Model
Funding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies
Internet-first Media > Feed Summary > BlueBox
7

Key Sub Sectors in Internet-first Media Sector
Summary of Key Markets
8
Other Notable Markets
# Cos on
Platform
Last 2 Years
$ Invested # Round
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Media Networks 84 $709M 15
Publishers > Multi-Category >
Social 190 $263M 22
Media Networks >
Multi Sector 79 $82.6M 5
Aggregators > News > Curated > Long
Stories >
Non-Personalized
99 $59.7M 7
Publishers > Sports >
Multi-Sport 62 $56M 7
Publishers >
Startups 169 $24M 14
Publishers > Lifestyle > Demographic >
Women 113 $24.7M 8
Publishers > Lifestyle > Thematic >
Horizontal 120 $74M 4
Publishers > Lifestyle > Thematic >
Art & Design 26 $104M 3
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Publishers
Digital publishers who maintain their own
independent domain for publishing content
3459 540 $3.5B
Media Networks
Holding companies which own and operate one or
more digital media properties as a part...
163 75 $1.9B
Aggregators
Digital media outlets which aggregate content from
various sources
465 162 $1.2B
Podcasts
Digital media outlets which host and distribute
podcasts
83 20 $117M
Internet-first Media > Feed Summary > Summary of Key Markets

List of Notable Companies in Internet-first Media
Notable Companies in the Sector (1/2)
9
Note: *(Founded Year, Location, Total Funding)
Internet-first Media > Feed Summary > Notable Companies in the Sector
Public
ZDNet
(1991, New York City)*
Marketwatch
(1997, San Francisco)
Rediff
(1996, Mumbai)
Salon
(1995, San Francisco, $2.5M)
Gloo Networks
(2015, London)
MNCMediaInvestment
(1999, Jakarta)
Leaf Group
(2006, Santa Monica, $356M)
India Infoline
(1995, Mumbai, $202M)
The Street
Jerrick Media Holdings
(2013, Englewood Cliffs, $3.7M)
Public
Triboo Media
(2014, Milan, $2.2M)
Women.com
(1992, Los Angeles, $1.8M)
Realtid Media
(2004, Stockholm, $429k)
VIVA
(2008, Jakarta)
AudioBoom
(2012, London)
Space
(1990, New York City)
Aripfan
(1989, Bangkok)
Be Magazine
(2010, Boulogne-billancourt)
ComtexNewsNetwork
e-Kiosk
(2006, Warsaw)
Public
Planet
(2000, Paris)
StarMedia
(1996, Miami)
TheMaven
(2016, Seattle)
Engineering
(2000, Mississauga)
4-Traders
(2009, Annecy)
Lycos
(1994, Waltham)
theScore
(2012, Toronto)
World Business Press
Online
(2005, Bratislava)
Acquired
Yahoo
(1994, Sunnyvale, $6.8M)
America Online
CNET
MarketWatch
Business Insider
(2007, New York City, $62.9M)
Aufeminin
(1999, Paris)
Incisive Media
(1994, London)
T-Online
(1995, Darmstadt)
Huffington Post
Dotdash
Acquired
Onet
(1996, Krakow)
Bleacher Report
DailyCandy
Quartz
ViralNova
(2013, Overland Park)

List of Notable Companies in Internet-first Media
Notable Companies in the Sector (2/2)
10
Internet-first Media > Feed Summary > Notable Companies in the Sector
Unicorns
BuzzFeed
Vox Media
(2003, Washington D.C., $324M)

List of Notable Companies by Market in Internet-first Media
Notable Companies by Market (1/7)
12
Internet-first Media > Feed Summary > Notable Companies by Market
Media Networks
Media Networks
$625M)
Digital-first media network
Soonicorn. Stage: Series D
Axel Springer SE, Discovery Communications, Lerer
Hippeau Ventures and 2 Other Investors
Digital media publishing network
Unicorn. Stage: Series E
NBCUniversal, General Atlantic, Accel Partners and
3 Other Investors
Realtid Media (2004, Stockholm, $429k)
Media group focusing on the financial industry
Stage: Public
US-based network of content sites
Editor's Pick. Stage: Acquired
Comcast Ventures, DCM Ventures, Drum Tower
Ventures
Media Networks
Gloo Networks (2015, London)
Media network focusing on acquiring digital brands
Stage: Public
Marwyn, Herald Investment Management
TheMaven (2016, Seattle)
Group media company functioning across multiple
content verticals
Stage: Public
Multi Sector
Leaf Group (2006, Santa Monica, $356M)
Diversified internet company operating multiple
digital properties
Stage: Public
Silicon Valley Bank, US Bank, Fifth Third Bancorp
and 10 Other Investors
Purch (2003, Ogden, $176M)
Purch is a portfolio of digital brands and services
Soonicorn. Stage: Acquired
Canso Investment Counsel Ltd, ABS Capital,
Highway 12 Ventures and 2 Other Investors
Digital media company, Formed by the merger of
Alloy Digital and Break Media
Soonicorn. Stage: Series B
Wellington Management, Wider Wake, Rosemont
Seneca Technology Partners and 2 Other Investors

13
Media Networks
Multi Sector
Jerrick Media Holdings (2013, Englewood
Cliffs, $3.7M)
Produces and distributes digital media content
across various platforms
Stage: Public
Triboo Media (2014, Milan, $2.2M)
Italian media network which owns and licenses
content sites
Stage: Public
First Capital
Incisive Media (1994, London)
B2B media company and events organizer
Stage: Acquired
MNCMediaInvestment (1999, Jakarta)
Media network which develops content platforms
and provides distribution services
Stage: Public
Planet (2000, Paris)
Digital publishing company operating different
websites
Stage: Public
Multi Sector
Rediff (1996, Mumbai)
Online platform providing digital content and e-
commerce marketplace services
Stage: Public
Publishers
Multi-Category
US-based social news provider
Unicorn. Stage: Series F
NBCUniversal, Andreessen Horowitz, Man Capital
Huffington Post (2005, New York City, $37M)
Crowdsourced online news site
RRE Ventures, Oak Investment Partners, Greycroft
Partners and 2 Other Investors
Dose (2009, Chicago, $34.5M)
A media company that creates and distributes viral
content
Tribune Media, Garland Capital Group, Jumpstart
Ventures

14
Publishers
Multi-Category
News and On-line directory
Stage: Acquired
Reuters, Sequoia Capital, The Capital Corporation
America Online (1985, New York City)
Global online portal which owns and operates a
suite of famous web brands
Unicorn. Stage: Acquired
Kleiner Perkins, GIV Management, Boston Financial
and Equity Corporation and 1 Other Investors
VIVA (2008, Jakarta)
Indonesia-based news portal providing daily news
and updates
Editor's Pick. Stage: Public
Onet (1996, Krakow)
Online news portal targeting polish readers
Multi-Category
StarMedia (1996, Miami)
Online media platform providing news focused on
Latin Americans
Stage: Public
ViralNova (2013, Overland Park)
Website providing trending stories on the web
Stage: Acquired
T-Online (1995, Darmstadt)
Advertising-financed digital offering, with news,
advice and shopping content
Stage: Acquired
Deutsche Telekom Capital Partners
Lycos (1994, Waltham)
Digital Media company
Stage: Public
Highland Capital Partners, Oak Investment Partners
Quartz (2012, New York City)
An online news outlet
Stage: Acquired
Lifestyle
Refinery29 (2004, New York City, $129M)
Digital media company focused on women's fashion
and lifestyle
Soonicorn. Stage: Series E
Turner, Scripps Networks Interactive, WPP and 8
Other Investors
Weekly lifestyle publication and e-commerce shop
Soonicorn. Stage: Series C
Lightspeed Venture Partners, Felix Capital, New
Enterprise Associates and 4 Other Investors
Tastemade (2012, Santa Monica, $80.3M)
A video network for foodies
Goldman Sachs, Redpoint Ventures, Raine Group
Popsugar (2006, San Francisco, $46M)
A women focused lifestyle brand
IVP, Sequoia Capital, NBCUniversal

15
Publishers
Lifestyle
Joyus (2011, San Francisco, $43.4M)
Fashion discovery through short videos
Accel Partners, InterWest Partners, Time Warner
Thrive Global (2016, New York City, $43M)
Wellbeing and productivity platform
Kevin Durant, San Francisco 49ers, WndrCo and 29
Other Investors
Women.com (1992, Los Angeles, $1.8M)
Digital Community for women to create and share
content
Stage: Public
Y Combinator, Greylock Partners, Lowercase
Capital and 7 Other Investors
Be Magazine (2010, Boulogne-billancourt)
Digital lifestyle magazine focusing on women's
fashion
Stage: Public
Lifestyle
DailyCandy (2000, New York City)
Daily email newsletter and website with fashion
and lifestyle content
Stage: Acquired
Aufeminin (1999, Paris)
Online woman’s portal
Stage: Acquired
Axel Springer SE, Galileo Partners, Innovacom
Sports
Provides crowdsourced scores, news and other
sports content
Minicorn. Stage: Acquired
Crosslink Capital, Hillsven, Oak Investment
SB Nation (2005, Washington D.C., $34M)
Online sports media brand and network of fan-
centric sports communities
Accel Partners, Khosla Ventures
theScore (2012, Toronto)
Stage: Public
Relay Ventures, Rogers Venture Partners, Rogers
Communications

16
Publishers
Entertainment
The Onion (1988, Chicago)
Satirical news and entertainment platform
Soonicorn. Stage: Unfunded
Business & Finance
India Infoline (1995, Mumbai, $202M)
Financial information on public market investing
Stage: Public
Fairfax India, Milliways Ventures, Fairbridge Capital
Business Insider (2007, New York City,
$62.9M)
Online publisher of business news
Stage: Acquired
Axel Springer SE, IVP, RRE Ventures and 6 Other
Investors
The Street (1996, New York City, $15M)
Online portal for business news, market data and
stock analysis
180 Degree Capital, Technology Crossover
Ventures, The New York Times and 1 Other
Investors
4-Traders (2009, Annecy)
Stage: Public
Business & Finance
MarketWatch (1997, San Francisco)
Website covering business and financial news
Stage: Acquired
ManoCap
Marketwatch (1997, San Francisco)
Website providing business and finance news
Stage: Public
World Business Press Online (2005,
Bratislava)
Financial and forex news provider
Stage: Public

17
Publishers
Science & Technology
CNET (1994, San Francisco)
Website for product reviews, software downloads
and tech news
Unicorn. Stage: Acquired
Space (1990, New York City)
News coverage and conversation about space
science, astronomy and exploration
Aripfan (1989, Bangkok)
Technology and gadget news platform from
Thailand
Stage: Public
Engineering (2000, Mississauga)
Digital media portal for engineering news updates
Stage: Public
ZDNet (1991, New York City)
A business technology news website
Stage: Public
Politics & Opinion
Salon (1995, San Francisco, $2.5M)
American news and opinion website
Stage: Public
Spear Point Capital Management, Adobe, WR
Hambrecht and 5 Other Investors
Aggregators
News
Flipboard (2010, Palo Alto, $210M)
Web/Mobile platform for content curation
JPMorgan, Rizvi Traverse Management, Index
Ventures and 16 Other Investors
Aggregates news in Indian regional languages
Toutiao, Matrix Partners India, Sequoia Capital and
8 Other Investors
Smart News (2012, Tokyo, $90M)
Personalized news discovery platform
Development Bank of Japan, SMBC Venture Capital,
Atomico and 5 Other Investors
ComtexNewsNetwork (1981, New York City)
Subscription-based personalized news aggregator
Stage: Public

18
Aggregators
Digital Newsstands
Texture (2009, Menlo Park, $130M)
Multi-platform digital newsstand
TimeInc, Conde Nast, Meredith and 3 Other
Investors
e-Kiosk (2006, Warsaw)
Newspaper and magazine aggregator
Stage: Public
IQ Partners
Podcasts
Aggregators
AudioBoom (2012, London)
Spoken-word audio platform for hosting,
distributing and monetising content
Edge Investment Management

List of Notable Companies in Internet-first Media in China
Notable Companies in the Sector in China
19
Internet-first Media > Feed Summary > Notable Companies in the Sector in China
Public
PConline
(1997, Guangzhou)
Huxiu
(2012, Beijing)
Ifanr.com
(2008, Guangzhou)
Acquired
Ssports
(2005, Beijing)
17173.com
(2001, Beijing)
Unicorns
Toutiao
(2012, Beijing, $1.1B)
Soonicorns
Hupu
(2004, Shanghai, $156M)

Recent News in Internet-first Media Sector
Recent News
20
Internet-first Media > Feed Summary > Recent News
Aug 2018
Another day, another Youtube competitor is born in India,
FactorDaily
Aug 2018
The Game Agency Honored as a 2018 Top 20 Training Delivery
Company, PRWeb
Aug 2018
Leaf Group Ltd. Reports Second Quarter 2018 Results,
GlobeNewswire
Aug 2018 Warner Music Group acquires Uproxx, TechCrunch
Aug 2018
China's Bytedance scrubs Musical.ly brand in favor of TikTok,
Reuters
Aug 2018 Techmeme introduces contextual ads tied to news topics, TechCrunch
Aug 2018
BANKEX MediaToken to Revolutionize YouTube via Blockchain
Integration, Finance Magnates
Aug 2018
musical.ly and TikTok Unite to Debut New Worldwide Short Form
Video Platform, PR Newswire
Jul 2018
Linius Technologies to roll out personalised search with
broadcaster’s aggregator Newstag, Proactive Investors
Jul 2018 Spotify is now streaming Archie motion comics, The Verge
Jul 2018 Jo-Ann Stores Updates Its Brand To Extend Beyond Fabrics, PYMNTS
Jul 2018
Business Insider is hiring a paid tech intern in San Francisco,
Business Insider
Jul 2018
Bus-sharing app Shuttl gets $11M Series B from investors including
Amazon India, TechCrunch
Key Recent News Key Recent News
Jul 2018
Innoviva Reports Second Quarter 2018 Financial Results, Business
Wire
Jul 2018 Apartment Therapy Taps Carrie Reynolds As CRO, MediaPost
Jul 2018
Vice Studios, RYOT To Launch Documentary Production Fund,
MediaPost
Jul 2018
Times Internet makes key appointments in its leadership team,
BestMediaInfo
Jul 2018 Goop hires fact-checker to vet its health advice, Fashion Network
Jul 2018
Digital community for women POPxo is set to launch its ecomm
platform, Indiatimes
Jul 2018
Ziff Davis acquires Revenu8, Including MarTech Advisor,
HRTechnologist and ReadITQuik, Technology-Signals
Jul 2018
Leaf Group appoints Beverly Carmichael to its Board of Directors,
Talent4Boards
Jul 2018 Dailyhunt and Sakal Media Group form partnership, Adgully
Jul 2018
Business Insider launches 'Household Name' podcast series, Business
Insider
Jul 2018
Byju’s adds B’luru’s Math Adventures to its platform in an effort to
build its K-3 product line, Indiatimes

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
21
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

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$354M
$141M
$524M $513M
$1.3B $1.3B
$487M
$315M
0
20
40
60
80
100
120
140
$0k
$200M
$400M
$600M
$800M
$1.B
$1.2B
$1.4B
2011 2012 2013 2014 2015 2016 2017 2018*
$ Funding # Rounds
Investments ($M) and number of rounds in Internet-first Media; 2011-2018
Global Funding Trends (1/2)
23
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Internet-first Media > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 4% # of Rounds5% $ Funding
6% # of Rounds
2% $ Funding

44 35 45 54 62 58 50 12
18 21
39 43 52
43
37 19
9 5 12 13
18
11 11 5
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
71
36
Total # of Rounds
$26M $15M $36M $35M $54M $25M $33M $3M
$205M
$74M
$211M
$297M
$403M $265M
$263M
$183M
$123M $52M $277M $182M
$848M
$998M
$191M $129M
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
$195M
$0K
$317M
$228M
$929M
$1.1B
$176M $200M
0
2
4
6
8
10
12
14
16
0
200000000
400000000
600000000
800000000
1E+09
1.2E+09
2011 2012 2013 2014 2015 2016 2017 2018 YTD
$ Funding # of Rounds
24
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded ClubMega Rounds
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Internet-first Media; 2011-2018
Internet-first Media > Investment Trends > Global Funding Trends
82
50
55
70
61
44
13
375
$1.4M $2.9M
$0.0M
$1.0M
$2.0M
$3.0M
$4.0M
$5.0M
$6.0M
$7.0M
0
50
100
150
200
250
300
350
400
2012 2013 2014 2015 2016 2017 2018 YTD Total
Entrants in Funding Club Avg. Ticket Size
6 - 8 6 14 9 6 4 $1.4M $3M $2.6M $2.6M $2.7M $2.1M $6.3M $2.9M
$354M
$315M
Total $ Invested

Internet-first Media > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Internet-first Media
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
New York City 2.4B 208
Bay Area 936M 153
Santa Monica 447M 20
Washington D.C. 395M 20
Los Angeles 212M 47
Ogden 176M 4
Bangalore 141M 33
London 136M 30
Tokyo 114M 11
Atlanta 104M 8
Total Funding
294
147
118
15
7
54
6
10
# Rounds
$5.2B
$390M
$279M
$134M
$94.7M
$87.1M
$55.2M
$24.2M
US
Europe
India
Japan
South Korea
SEA
Israel
Canada
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$0.8
$0.5
$0.9 $0.9 $1.2
$0.7
$1.0
2011 2012 2013 2014 2015 2016 2017
$6.7
$3.2
$5.2 $5.9 $6.5
$5.5
$6.8
$20.8
$8.0 $7.0
$14.6 $14.4 $16.0 $14.1
$17.6 $10.4
$30.7 $16.5
$49.9
$99.8
$19.1
Internet-first Media > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Internet-first Media; 2011-2017
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$10K* $5.3M
$5 $44.9M
$332K $80M
$73.8K $585M
$17M
$8M
$4M
$600K
Series C+
Series B
Series A
Seed
Stage

Note: 405 companies with undisclosed funding amount are not included
27
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
130
199
81
17
12
No. of Companies
Internet-first Media > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Internet-first Media; as of Aug 2018
Distribution of companies by Funding Range
$41M
$693M
$1.8B
$1.1B
$3.B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
19%
7%
3%
2%
28
Note: Numbers in the brackets show the count of companies
Time to raise
next round
66
121
281
797
4171
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
19% 1%
(58)
1%
(43)
6%
(264)
7%
(288)
68%
(2822)
35% 5%
(40)
3%
(26)
18%
(141)
10%
(82)
37%
(293)
43% 8%
(23)
3%
(9)
22%
(61)
7%
(20)
28%
(79)
55% 17%
(21)
6%
(7)
24%
(29)
4%
(5)
17%
(21)
- 26%
(17)
9%
(6)
27%
(18)
5%
(3)
5%
(3)
Internet-first Media > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Internet-first Media
Funding Funnel
18 Months
21 Months
18 Months
Investment backedBootstrapped
17
4
28
15
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Internet-first Media > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Internet-first Media; Aug 2016-Aug 2018
Notable Investments in last 24 months (1/3)
LATE STAGE
$585M - Series D Dec 2016
$625M)
Discovery Communications
$200M - Series F Nov 2016
NBCUniversal
$50M - Series C Mar 2018
Lightspeed Venture Partners, Felix Capital, New
Enterprise Associates, Fidelity Investments
$50M - Series C May 2018
NewsDog (2016, Delhi, $50M)
Web and mobile-based news aggregator
Tencent, Danhua Capital, Legend Capital
LATE STAGE
$45.1M - Series D Oct 2016
Matrix Partners India, Sequoia Capital, Omidyar
Network, Falcon Capital, Toutiao, Arun Sarin
$40M - Series D Nov 2017
$625M)
Hippeau Ventures
$40M - Series C Jan 2017
$58M)
Athlete driven online sports media platform
IVP, New Enterprise Associates, GV
$25M - Series D Oct 2017
Toutiao
LATE STAGE
$21M - Series C Apr 2017
Mic (2011, New York City, $61.2M)
A news and media company targeting millennials
Lightspeed Venture Partners, Time Warner, Kyu
Collective, You & Mr Jones
$19M - Series C Jan 2017
Ookbee (2010, Suan Luang, $28M)
Online magazine aggregator
Tencent
$12M - Series D Mar 2017
Bustle (2013, New York City, $50.5M)
An online media publication with a focus on women
GGV Capital
$6.5M - Series C Jun 2017
WPP

EARLY STAGE
$80M - Series B Apr 2018
Digital media platform that publishes content on
local culture
PPF Group
$70M - Series B Sep 2016
Digital media company, Formed by the merger of
Alloy Digital and Break Media
Wellington Management
$30M - Series B Nov 2017
IVP, Marc Benioff, Phil Fernandez, Advancit Capital,
Canvas Ventures, Female Founders Fund, Fred
Harman, Ray Dalio, Lerer Hippeau Ventures,
Greycroft Partners, Blue Pool Capital, Heather
Reisman, Sean Parker, Michael Huffington
EARLY STAGE
$20M - Series B Jun 2018
Tastytrade (2011, Chicago, $51.4M)
Financial information broadcast network during
market hours
Technology Crossover Ventures
$20M - Series B Nov 2017
Axios (2016, Washington D.C., $30M)
News and information website
Greycroft Partners, Lerer Hippeau Ventures,
NBCUniversal, Emerson Collective, WndrCo, Greg
Penner
$20M - Series A Oct 2016
Digital media platform that publishes content on
local culture
PPF Group
EARLY STAGE
$19.5M - Series B Sep 2017
Acast (2013, Stockholm, $32M)
Platform to share, listen, and discover podcasts
Ny Teknik, Inbox Capital, Alfven and Didrikson,
MOOR Capital, Club Network Investments, Bonnier
Ventures, Norron
$15M - Series B Aug 2016
New Enterprise Associates, Felix Capital, 14W
$13M - Series B May 2018
Kevin Durant, San Francisco 49ers, WndrCo, Eric
Roza, Adrian Aoun, Yash Sandesara, Adam Miller,
Rich Kleiman
$5M - Series B Dec 2017
InShorts (2013, Delhi, $29M)
Summarized news and infotainment content
provider
Tiger Global Management

EARLY STAGE
$3M - Series A Dec 2016
Pocket Aces (2013, Mumbai, $3.5M)
Digital entertainment video production and social
content publishing
Sequoia Capital, North Base Media, Aarin Capital,
3one4 Capital, Axilor Ventures, Sandeep Tandon,
Kunal Shah, NuVentures, Kris Gopalakrishnan,
Nitesh Kriplani, Srinath Batni
$250k - Series A Dec 2017
ScoopWhoop (2013, Delhi, $6M)
Curated entertainment content specific to Indian
stories
Kalaari Capital
Series A Aug 2016
Lerer Hippeau Ventures, Greycroft Partners,
Advancit Capital, Female Founders Fund, Blue Pool
Capital, Zoë Baird, Nicolas Berggruen, Joanna Coles,
Ray Dalio, Mohamed El-Erian, Nick Green, Gunnar
Lovelace, Fred Harman, Isabella Carapella, Sean
Parker, Andre Iguodala
SEED STAGE
$250k - Seed Oct 2017
Zumi (2016, Nairobi, $375k)
Digital media platform for women focused on
fashion trends, beauty tips, and lifestyle

Internet-first Media > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
$1B - Series D Apr 2017
Toutiao (2012, Beijing, $1.1B)
Personalized news aggregator app
Sequoia Capital, China Construction Bank
$112M - Series E Nov 2017
Yidianzixun (2013, Beijing, $184M)
$95M - Series E Jan 2018
Hupu (2004, Shanghai, $156M)
Sports commentary and news platform
CICC
$92M - Series F Jan 2018
36Kr (2010, Beijing, $144M)
Chinese web publication with a key focus on
technology and entrepreneurship sectors
IDG Capital, Gobi Partners, Prometheus Capital,
China Minsheng Investment, Unity Ventures
LATE STAGE
$45.3M - Series E Dec 2017
36Kr (2010, Beijing, $144M)
Chinese web publication with a key focus on
technology and entrepreneurship sectors
CPC Fund, Gobi Partners, Focus Media, Hangzhou
Financial Investment Group, Baidu Video
Series D May 2018
Toutiao (2012, Beijing, $1.1B)
EARLY STAGE
$98.2M - Series A Apr 2018
Pear Video (2016, Shanghai, $125M)
Platform for short news and entertainment videos
Tencent, Baidu Ventures
$21.9M - Series B Apr 2017
iFensi (2005, Beijing, $29.5M)
Online media portal for movies and other
entertainment related news
Qianhai Indus buyout fund, 36Kr, Hanfor

Most Active Investors (VC, PE) by Stage in Internet-first Media; Last 5 years (Aug 2013-Aug 2018)
Most Active VC & PE Investors
33
Internet-first Media > Investment Trends > Most Active VC & PE Investors
SEED STAGE
Greycroft Partners (4 Investments)
The Dodo, Elite Daily, Inverse
1
Lerer Hippeau Ventures(4 Investments)
The Dodo, Spoon University, PureWow
2
Social Starts(3 Investments)
Elite Daily, A Plus, Fresco News
3
Omidyar Network(3 Investments)
News Deeply, Scroll.in, Newslaundry
4
Comcast Ventures(3 Investments)
OMG Voice, Dotdash, Heleo
5
Social Capital (3 Investments)
OMG Voice, Laugh Radio, OMG Digital
6
East Ventures(2 Investments)
Scoop, IDNtimes
7
Lightspeed Venture Partners (2
Investments)
Girlboss, LittleThings
8
Greylock Partners (2 Investments)
Women.com, Heleo
9
Betaworks(2 Investments)
Gimlet, Quibb
10
EARLY STAGE
Lerer Hippeau Ventures(6 Investments)
WhoWhatWear, Mic, Axios
1
Advancit Capital(6 Investments)
WhoWhatWear, Mic, Thrive Global
2
WhoWhatWear, Axios, Thrive Global
3
Sequoia Capital (4 Investments)
DailyHunt, Citizen, Pocket Aces
4
North Base Media (4 Investments)
StepFeed, Pocket Aces, IDNtimes
5
Kalaari Capital (3 Investments)
YourStory Media, POPxo, ScoopWhoop
6
New Enterprise Associates(3 Investments)
Goop, The Players' Tribune, Some Spider
7
Omidyar Network(3 Investments)
DailyHunt, EdSurge, The Ken
8
Social Starts(3 Investments)
Mashable, Smart News, Inverse
9
Bertelsmann Digital Media
Investments(3 Investments)
WhoWhatWear, ART19, Clique Media Group
10
LATE STAGE
GV (2 Investments)
The Players' Tribune, theSkimm
1
Lerer Hippeau Ventures
Group Nine Media
2
Accel Partners
SB Nation
3
Comcast Ventures
Tastemade
4
IVP
The Players' Tribune
5
Khosla Ventures
SB Nation
6
Walden International
Tech in Asia
7
Lightspeed Venture Partners
Goop
8
General Catalyst Partners
Bustle
9
GGV Capital
Bustle
10

Internet-first Media > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Internet-first Media; Last 5 years (Aug 2013-Aug 2018)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
500 Startups(17 Investments)
Bustle, Nuzzel, POPxo
1
Techstars(6 Investments)
Spoon University, Collider, Circa
2
Y Combinator(6 Investments)
Tech in Asia, Women.com, OMG Voice
3
Matter(5 Investments)
Nuzzel, News Deeply, RadioPublic
4
TLabs(4 Investments)
InShorts, Skift, Murmur
5
Berytech(3 Investments)
News Deeply, Ounousa, StepFeed
6
DG Incubation(3 Investments)
Digg, Nuzzel, Umano
7
Project Flying Elephant(3 Investments)
Labiotech, Deine Korrespondentin, Veggie-Love
8
AppWorks(2 Investments)
BuzzOrange, TechOrange
9
Axilor Ventures(2 Investments)
Pocket Aces, MatchBox
10
OTHER NOTABLE INVESTORS
Axel Springer SE(8 Investments)
Business Insider, OZY, Group Nine Media
1
Knight Foundation(7 Investments)
Mic, Gimlet, Blavity
2
Goldman Sachs(4 Investments)
Flipboard, Tastemade, MinuteMedia
3
Kima Ventures(4 Investments)
OMG Voice, Chefclub, Gustave & Rosalie
4
NBCUniversal(4 Investments)
Vox Media, BuzzFeed, NowThis
5
WPP(4 Investments)
Refinery29, Mic, Gimlet
6
Discovery Communications(3
Investments)
Group Nine Media, Vix, RugbyPass
7
Gannett(3 Investments)
Digg, Rant, Billy Penn
8
Media Development Investment Fund
(3 Investments)
Mic, Scroll.in, Katadata
9
The New York Times(3 Investments)
theSkimm, Blendle, RadioPublic
10
DEBT INVESTORS
Kohlberg Kravis Roberts
Texture
1
Silicon Valley Bank
Leaf Group
2

Internet-first Media > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/3)

Internet-first Media > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
39
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Investment Activity
Top Markets of Early Stage Investors
Market Deep Dive

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Online Video
Mar 2018
VR Gaming
Aug 2017
Mobile App Distribution
May 2018

FACTSHEET
Marketmap: Internet-first Media
41
Internet-first Media > Market Details > BlueBox

Key Sub Sectors
42
Key Sub Sectors in Internet-first Media
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Publishers
Digital publishers who maintain their own independent domain for publishing content
India Infoline (1995, Mumbai, Public)
3459 540 $3.5B
Media Networks
Holding companies which own and operate one or more digital media properties as a part of
their portfolio
Leaf Group (2006, Santa Monica, Public)
$625M)
163 75 $1.9B
Aggregators
Digital media outlets which aggregate content from various sources
Texture (2009, Menlo Park, Acquired)
Flipboard (2010, Palo Alto, $210M)
465 162 $1.2B
Podcasts
Digital media outlets which host and distribute podcasts
Stitcher (2008, San Francisco, Acquired)
Acast (2013, Stockholm, $32M)
83 20 $117M
Internet-first Media > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/11)
43
Internet-first Media > Market Details > Detailed Sector Taxonomy

44

45

46

47

48

49

50

51

52

53

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(+2)
Media Networks
Holding companies which own and operate one or more digital media properties as a part of their
portfolio
(Companies covered 84 | Funded 41 | Total Funding $1.2B)
$709M
(+$278M)
15
(-23)
Group Nine Media
2
(-1)
Publishers > Multi-Category > Social
Digital media publishers focusing on social and/or highly shareable news content
(Companies covered 190 | Funded 46 | Total Funding $892M)
$263M
(-$369M)
22
(-43)
BuzzFeed
3
(+2)
Publishers > Sports > Multi-Sport
Sports themed digital media properties covering all major sports
$56M
(-$94.4M)
7
(-19)
4
(-2)
Media Networks > Multi Sector
Holding companies which own and operate multiple digital media properties and also includes
properties that are not content related
$82.6M
(-$589M)
5
(-26)
Defy Media
5
(+1)
Publishers > Startups
Digital media publishers focusing on the startup ecosystem
(Companies covered 169 | Funded 32 | Total Funding $71.9M)
$24M
(-$15.7M)
14
(-11)
Tech in Asia
(2009, Singapore, $10.4M)
6
(-2)
Publishers > Lifestyle > Demographic > Women
Lifestyle digital media portals focusing on women
$24.7M
(-$207M)
8
(-38)
Bustle
7
(+1)
Publishers > Lifestyle > Thematic > Horizontal
Lifestyle digital media portals with content across themes and demographics
$74M
(-$19M)
4
(-3)
Goop
54
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets of Investment Activity (1/2)
Top Markets by Funding in Internet-first Media in last 2 years (August 2016 - July 2018)
Internet-first Media > Market Details > Top Markets of Investment Activity

Top Markets of Investment Activity (2/2)
Internet-first Media > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Media Networks
Holding companies which own and operate one or more digital media properties as a part of their portfolio
(Companies created 84 | Funded 41 | Total Funding $1.2B )
4
MinuteMedia (2011, Tel Aviv, $77M)
Mammoth Media (2015, Los Angeles, $13M)
2
Publishers > Lifestyle > Thematic > Life
Lifestyle digital media portals focusing on life, philosophy, career, and similar content
(Companies created 16 | Funded 4 | Total Funding $50M )
1 Thrive Global (2016, New York City, $43M)
3
Publishers > Entertainment > Gaming
Entertainment focusing digital media platforms with content from the gaming world
(Companies created 80 | Funded 12 | Total Funding $56.2M )
1 Plays.tv (2014, Redwood City, $15M)
4
Publishers > Lifestyle > Thematic > Horizontal
Lifestyle digital media portals with content across themes and demographics
(Companies created 120 | Funded 12 | Total Funding $175M )
1 Goop (2008, New York City, $82M)
5
Publishers > Multi-Category > Traditional > Local
Digital publishers focusing on traditional news content and stories around local markets/local news
(Companies created 238 | Funded 28 | Total Funding $31.5M )
1 Citizen (2015, New York City, $12M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
56
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (August 2016 - July 2018)
Internet-first Media > Market Details > Top Markets of Early Stage Investors

Rank Market
Last 2 Years
# of Comp Founded $ Invested # Round Top Funded Company
1
Publishers > Business & Finance > Industry Specific > FinTech
Business-first digital media publishers focusing on FinTech news
(Companies covered 30 | Funded 2 | Total Funding $325k)
10 $225k
(+$225k)
1
(+1)
MEDICI
(2013, Charlotte, $325k)
57
Other Notable Markets with high Entrepreneurial Activity in Internet-first Media in last 2 years (August 2016 - July 2018)
Internet-first Media > Market Details > Other Notable Markets

Incubators Science (#1), Axilor Ventures (#1)
Seed MedSecurities (#1), Crosscut (#1)
Series A/B Accel Partners (#2), Greycroft Partners (#2)
Series C+ Lerer Hippeau Ventures (#1), NBCUniversal (#1)
Gloo Networks Aug - 2015
IPO'd on LON
Dotdash Aug - 2012
Acq by Ask for $300M
$5M - Series B
Tickled Media (2009, Singapore,
$8.2M)
$17M - Series F
MinuteMedia (2011, Tel Aviv, $77M)
$40M - Series D
Group Nine Media (2016, New York
City, $625M)
$968k - Angel
Hepmil Media Group (2016,
Singapore, $968k)
$120k - Seed
OMG Digital (2016, Accra, $120k)
$15M - Series C
Clique Media Group (2006, Los
Angeles, $23M)
$1.1M - Seed
$725k - Seed
Grvty Media (2017, Singapore, $725k)
$10M - Series A
Some Spider (2014, New York City,
$10M)
Dec 2016
Digital media startup for Indian millennials raises $3 million
led by Sequoia, Tech in Asia
Jan 2018 SourceMedia Launches SourceSelect+, PRWeb
Dec 2017
Wirtualna Polska : secures PLN 500 million for further
growth, 4-Traders
Jul 2017 Vox Launches 'Eater London,' Company's First, MediaPost
Jul 2017
Thrillist Parent Company Hires Political Veteran as P.R. Chief
, The Hollywood Reporter
Dec 2016
Innova exits Wirtualna Polska stake to record 60 per cent
IRR, Real Deals
Dec 2016
SheKnows Media Announces Janet Mock to Emcee the Voices
of the Year Celebration at #BlogHer17 in Orlando, June 22-
24, 2017, Business Wire
Jun 2017
Group Nine Media says it got 114M social engagements last
month, Tech News Titan
Jan 2018
Group Nine CEO’s Strategy: Diversify Brands And Revenue,
AdExchanger
Jan 2018
Digital Entertainment Startup Pocket Aces Acquires
Interactive Game Show App Loco, Inc42
Nov 2016
Digital entertainment startup Pocket Aces aims to become
the modern media company of choice for the Indian
millennial, E27
Nov 2017
Five Capital in negotiations for merger between Diwanee
and Uturn Entertainment, Private Equity Wire
Aug 2016
How to watch the Olympics closing ceremony — even if
you're not in front of your TV, Recode
Sep 2017 Singaporean 9gag competitor grabs funding, Starter Incubator
News
0
2
4
6
8
10
$0k
$100M
$200M
$300M
$400M
$500M
$600M
$700M
2014 2015 2016 2017 2018
YoY Funding Rounds
4
9
17
41
84
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Media Networks: Market Factsheet
58
Exits
Recent Investments
YoY Funding and Rounds
Holding companies which own
and operate one or more digital
media properties as a part of their
portfolio
Group Nine Media
Vox Media
MinuteMedia
(2011, Tel Aviv, $77M)
UproxxMediaGroup
(Culver City, $42M)
Clique Media Group
(2006, Los Angeles, $23M)
Top Companies
#1 Top Markets of Investment Activity
Internet-first Media > Market Details > Market: Media Networks
Companies Created 84 | Funded 41 | Total Funding $1.2B
Market: Media Networks

Media Networks: Top Companies
Analyst’s Pick
$625M)
Hippeau Ventures and 2 Other Investors
Digital media publishing network
Unicorn. Stage: Series E
NBCUniversal, General Atlantic, Accel Partners and
3 Other Investors
UproxxMediaGroup (Culver City, $42M)
Owns and operates multiple digital brands
Minicorn. Stage: Series B
IVP, Advancit Capital, WPP and 5 Other Investors
Fexy (2014, Mercer Island, $22.3M)
Collection of digital food & lifestyle brands
Editor's Pick. Stage: Series B
Tritium Partners
Analyst’s Pick
Pocket Aces (2013, Mumbai, $3.5M)
Digital entertainment video production and social
content publishing
Minicorn. Stage: Series A
Sequoia Capital, North Base Media, Aarin Capital
Owns and operates digital media brands for African
millennials
Editor's Pick. Stage: Seed
Y Combinator, Kima Ventures, Soma Capital and 4
Other Investors
Bustle.company (2013, New York City)
Digital media group catering to millennial women
Editor's Pick. Stage: Unfunded
Controvert Media (2016, Harare)
Digital media outlet operating news websites
Analyst’s Pick
Comcast Ventures, DCM Ventures, Drum Tower
Ventures
Render Media (2011, Los Angeles)
Digital media publishing company

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
60
Media Networks: Leaderboard
Better than Market Average
Overall
Rating
Company
Name
Foun
ded
Year
Location Stage Funding Team
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0
Mammoth
Media
2015 Los Angeles Acquired $13M - 4 3 3 1 1.7M 253 7.5M 61.2k -234k -12% 28.2k 78% 160 172%
4.9 Link To Media 2011 Barcelona Seed $200k - 5 - 3 - 1.6M 453 2.9M 21.1k 2M 422% 3.2k 18% 10 2%
4.9 Industry Dive 2012
Washingto
n D.C.
Seed $900k - 5 - - - 453k 1.3k 8k 56 59k 15% 5 10% 149 13%
4.8 MinuteMedia 2011 Tel Aviv Series F $77M - 5 - - 5 636k 133k 5.1M
145.6
k
-113k -15% 1.2k 1% 23.7k 22%
4.8
Third Door
Media
2006 Redding Unfunded - - 5 - - - 125k 1.4k 38k 153 15k 14% 15 11% 63 5%
4.7 TheBlaze 2010
New York
City
Series A $6.4M - 4 - - 1 7k 668k 300k 3.7k 2k 25% 94 3%
-
10133
-1%
4.6
MemondoNetw
ork
2010 Barcelona Unfunded - - 4 - 3 - 3.5M 514 8k 102 2M 134% - - 4 1%
4.6 Africanews 2004 Haarlem Seed - - 5 - - 3 26k 20k 75k 244 -12k -30% 227 980% -559 -3%
4.5
Wirtualna
Polska
1995 Warsaw Funded - - 4 - - 5 382 1.2k 11.4M 74.5k -1k -11% 4.3k 6% -49 -4%
4.4 Dotdash 1997
New York
City
Acquired - - 4 - 4 1 130k - 8k 773 12k 10% - - - -
4.4 Qdopp 2014 Tokyo Funded - - 5 - - - 10M - 3k 100 13M 262% 16 19% - -
4.3 WatchMedier 2010
Copenhage
n
Unfunded - - 5 3 4 - 4.2M - 10k 32 -796k -18% 2 5% - -
4.3 Some Spider 2014
New York
City
Series A $10M - - - 4 - 1.1M 167 - - -549k -33% - - 9 6%

Incubators 500 Startups (#2), Gravy Partners (#1)
Seed SV Angel (#2), Wavemaker Partners (#1)
Series A/B Axel Springer SE (#2), Social Starts (#1)
Series C+ Lerer Hippeau Ventures (#1), NBCUniversal (#1)
Mashable Dec - 2017
Acq by Ziff Davis
ViralNova Jul - 2015
Acq by Zealot Networks for $100M
Pikicast Jun - 2012
Acq by Yellomobile
StarMedia May - 1999
IPO'd on NASDAQ
Series B
Konbini (2008, Paris)
Angel
Chaaipani (2015, Ahmedabad)
$250k - Series A
$6M - Series E
Vix (2005, Miami, $73.5M)
$154k - Angel
WittyFeed (2014, Indore, $342k)
$187k - Angel
Series A
Kumparan (2016, Jakarta)
$1.1M - Seed
OMG Voice (2016, Accra, $1.1M)
$6.5M - Series C
Jan 2017
GSV Capital leads $10 mln for online magazine OZY Media,
PE Hub
Jan 2015 Mashable Raises $17 Million in Series B Funding , PRWeb
Jul 2014
Dylan's Desk: What Yo's $1.5M round tells us about the state
of tech marketing | VentureBeat, VentureBeat
Aug 2015 BuzzFeed Signs Partnership With Yahoo Japan, TechCrunch
Dec 2017
Walmart is joining forces with BuzzFeed in its quest for
millennial shoppers, Business Insider
Aug 2017
BuzzFeed, Once A Banner-Free Zone, Embraces Ads, Fast
Company
Dec 2017
Matthew Zander and Parry Moss join OZY Media as sales
directors, Talking New Media
Jan 2018 Playboy sues Boing Boing over a web link, Engadget
Nov 2016
Zenefits reaches a $7M settlement with California, FinTech
Ranking
Mar 2017
MIC is Launching a Bunch of New Sites And Hiring More The
Two Dozen People to Run Them, Mediawire
May 2017
VC Media Activity May Have Hit A High-Water Mark,
ValueWalk
Jul 2017
Indonesia: GDP Venture invests undisclosed funding into
media startup Kumparan, Deal Street Asia
Sep 2016
American CEOs in Sydney: Leading fast-growing antipodean
startups, Mashable
Jun 2018
UNILAD CEO steps down amidst 'historic misconduct'
investigation, Prolific North
Feb 2018
Mashable - New Markets Venture Partners, New Markets
Venture Partners
News
0
2
4
6
8
10
12
14
16
$0k
$50M
$100M
$150M
$200M
$250M
$300M
$350M
2014 2015 2016 2017 2018
YoY Funding Rounds
4
5
20
46
190
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Publishers > Multi-Category > Social: Market Factsheet
61
Exits
Recent Investments
Digital media publishers focusing
on social and/or highly shareable
news content
BuzzFeed
Vix
(2005, Miami, $73.5M)
Mic
Mashable
Pikicast
(2013, Seoul, $44.9M)
Top Companies
Internet-first Media > Market Details > Market: Social
Companies Created 190 | Funded 46 | Total Funding $892M
Market: Social

Publishers > Multi-Category > Social: Top Companies
Market: Social (1/2)
Analyst’s Pick
Unicorn. Stage: Series F
NBCUniversal, Andreessen Horowitz, Man Capital
Minicorn. Stage: Series C
WPP, Lightspeed Venture Partners, Time Warner
Mashable (2005, New York City, $46M)
Online social news platform
Turner, Time Warner, David Jones and 6 Other
Investors
Pikicast (2013, Seoul, $44.9M)
Social news media platform
DSC Investment
Analyst’s Pick
OZY (2012, Mountain View, $35.3M)
News and information about people, places, trends,
ideas, and opinions
Editor's Pick. Stage: Series A
GSV Capital, Axel Springer SE, Ron Conway and 2
Other Investors
Dose (2009, Chicago, $34.5M)
A media company that creates and distributes viral
content
Tribune Media, Garland Capital Group, Jumpstart
Ventures
Heavy (1999, New York City, $30M)
New York-based online news and information
portal
Minicorn. Stage: Series B
Polaris Partners
Analyst’s Pick
Curated entertainment content specific to Indian
stories
Minicorn. Stage: Series A
Kalaari Capital, BSB, Manish Vij and 5 Other
Investors
Onedio (2009, Ankara, $5.6M)
Digital media platform which provides news and
shareable content
Editor's Pick. Stage: Series A
EBRD Venture Capital Investment Programme,
Revo Capital
Elite Daily (2011, New York City, $1.5M)
Online media focused on millenials
Greycroft Partners, Vast Ventures, Red Sea
Ventures and 3 Other Investors

Publishers > Multi-Category > Social: Top Companies
Market: Social (2/2)
Analyst’s Pick
OMG Voice (2016, Accra, $1.1M)
African pop-culture, entertainment, and lifestyle
portal
Kima Ventures, Soma Capital, Comcast Ventures
Online platform for sharing stories and
entertainment content
Sandeep Aggarwal, Inventuslaw, Anand
Chandrasekaran and 19 Other Investors
Khmerload (2011, Phnom Penh, $200k)
Social news platform from Cambodia
500 Startups
Arré (2015, Mumbai)
Online digital infotainment content platform
ENAM Holdings
Analyst’s Pick
Being Indian (2011, Mumbai)
Social news portal focusing on Indian content
Diply (2013, Toronto)
Social news and entertainment portal
Filter Copy (2015, Mumbai)
Social news and entertainment portal for the youth
Shareably (2015, San Francisco)
Digital media platform focusing on social news
TheLADbible (2012, Manchester)
Digital media portal hosting news and viral content
UNILAD (2014, Manchester)
News and entertainment website for the youth
Uproxx (2008, Culver City)
Media platform covering entertainment & culture
UTA Ventures, Otter Rock Capital
Analyst’s Pick
Wroops (2016, Delhi)
Digital media platform for social news

64
Publishers > Multi-Category > Social: Leaderboard
Market: Social
Overall
Rating
Company
Name
Foun
ded
Year
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 BuzzFeed 2008
New York
City
Series F $497M - 4 - - 107 211 6M 7.8M
134.9
k
1k 18% 1.5k 1% 101k 2%
5.0 Pikicast 2013 Seoul Acquired $44.9M - 4 4 3 - 56k 9.8k 7.5M
137.4
k
7k 13% 740 1% -305 -3%
4.9 WittyFeed 2014 Indore Seed $342k - 4 - - 9 3k 10k 75k 2.6k 3k 545% 715 38% 2.1k 24%
4.9
RVCJ Digital
Media
2010 Mumbai Unfunded - - 4 4 4 1 2k 164k 300k 4.8k 1k 3% 312 7% 28.9k 21%
4.9
The Better
India
2008 Bangalore Seed $160k - 5 - - 1 20k 567k 30k 468 -3k -10% 79 20% 166 -
4.9 Onedio 2009 Ankara Series A $5.6M - 4 - - - 3k 4.6k 3M 17.9k 2k 323% 1.5k 9% 212 5%
4.8 Kumparan 2016 Jakarta Series A - - 4 - - 3 485 68k 300k 1.6k -1k -34% 619 65% 27k 66%
4.8 Konbini 2008 Paris Series B - - 5 - - - 12k 21k 30k 179 4k 37% 7 4% 2.2k 11%
4.8 OZY 2012
Mountain
View
Series A $35.3M - 4 - - 6 32k 33k 8k 47 -6k -15% 10 27% 2.6k 8%
4.7 Break 2005 Los Angeles Series A $21.4M - 4 - - 1 13k 48k 3M 21.2k 4k 34% 170 1% -2103 -4%
4.7 Khmerload 2011
Phnom
Penh
Seed $200k - 5 - - 2 3k - 30k 73 -1k -1% 14 22% - -
4.7 Carbonated.TV 2009 San Ramon Seed - - 5 - - - 279k 2k 300 13 94k 49% 1 8% 52 3%
4.6 TopBuzz 2016 Los Angeles Unfunded - - 5 - - - 5k 6.6k 70.9M 375k -4k -43% 74.2k 38% 603 10%
4.6
The Logical
Indian
2013 Bangalore Unfunded - - 4 - - - 48k 67k 30k 257 3k 5% 85 49% 4.6k 7%

Incubators Mercatus Capital (#1)
Seed Seedfund (#1), SRI Capital (#1)
Series A/B Uncork Capital (#1), Hillsven (#1)
Series C+ Oak Investment Partners (#1), Crosslink Capital (#1)
Barstool Sports Jan - 2018
Acquired
theScore Oct - 2012
IPO'd on CVE
$1M - Seed
Sports Flashes (2016, Mumbai, $1M)
$14.8M - Series A
Barstool Sports (2006, New York City,
$23.3M)
Seed
Angel
Angel
$40M - Series C
The Players' Tribune (2014, New
York City, $58M)
$187k - Angel
sportscafe.in (2015, Bangalore, $187k)
Seed
Horse Network (2012, Burlington)
$8.4M - Series A
Barstool Sports (2006, New York City,
$23.3M)
$15.8M - Series A
Uninterrupted (2014, Akron, $15.8M)
Feb 2018
Deadspin' Hires First Female Editor In Chief, Megan
Greenwell, MediaPost
Jan 2018
Salford University To Demonstrate Augmented And Virtual
Reality Impact On Sport, Business Leader
Mar 2007
CBS Acquires High School Sports Site – TechCrunch,
TechCrunch
Oct 2017 TheScore reports Q4 results, Seeking Alpha
Aug 2017
CNW | theScore Unveils Major Redesign, Even Deeper Team
Coverage, CNW
Dec 2016
Breaking Data Corp. Announces Agreement to Acquire
GIVEMESPORT, PR Newswire
Aug 2017
Exclusive: BCCL backs sports content firm Sports Flashes –
VCCircle, VCCircle
Feb 2017
Breaking Data Corp. Provides Update on GIVEMESPORT
Acquisition, Marketwired
May 2017 Neeta Thakare joins InsideSport as Business Head, Tvnews4u
Jul 2017
Football365 Launches Worldwide on BBM Messenger, IT
News Africa
Jul 2016
Mark your calendars: The Gawker Media bankruptcy auction
is happening on August 16, Recode
Jan 2018 Sports Flashes launches Internet Radio Channel, TechStory
News
0
1
2
3
4
5
6
$0k
$10M
$20M
$30M
$40M
$50M
$60M
2014 2015 2016 2017 2018
YoY Funding Rounds
3
5
11
22
62
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Publishers > Sports > Multi-Sport: Market Factsheet
65
Exits
Recent Investments
Sports themed digital media
properties covering all major
sports
Bleacher Report
SB Nation
Barstool Sports
Top Companies
Internet-first Media > Market Details > Market: Multi-Sport
Market: Multi-Sport

Publishers > Sports > Multi-Sport: Top Companies
Market: Multi-Sport
Analyst’s Pick
$58M)
Athlete driven online sports media platform
Minicorn. Stage: Series C
IVP, New Enterprise Associates, GV and 3 Other
Investors
sports content
Crosslink Capital, Hillsven, Oak Investment
SB Nation (2005, Washington D.C., $34M)
Online sports media brand and network of fan-
centric sports communities
Accel Partners, Khosla Ventures
GiveMeSport (2008, London, $4.6M)
Provides features, opinion and insight on the latest
sports news
IMG, Quintessentially Ventures
Analyst’s Pick
Football365 (1997, Leeds)
Online sports media platform
InsideSport (2017, Delhi)
Online portal focused on sports business news
Sporting News (1886, Feltham)
American sports webzine
Sports Interactive Network Philippines
(2012, Manila)
Online sports news platform

67
Publishers > Sports > Multi-Sport: Leaderboard
Market: Multi-Sport
Overall
Rating
Company
Name
Foun
ded
Year
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0
Bleacher
Report
2007
San
Francisco
Acquired $42.3M - 4 - - 2 605 6M 7.5M
122.3
k
-1k -8% 988 1%
462.4
k
7%
4.9
Sportskeeda
(Absolute
Sports)
2010 Bangalore Seed $1M - 5 - - 1 4k 93k 600k 23.6k -1k -5% 1.5k 6% 2.9k 3%
4.8 sportscafe.in 2015 Bangalore Seed $187k - 5 - - - 350k 1.3k 30k 244 204k 145% 23 10% 39 3%
4.7 theScore 2012 Toronto Public - - 4 - - 11 24k 550k 30M
133.2
k
8k 44% 10.8k 9% -2038 -
4.6 MaxPreps 2003 Cameron Acquired $7M - 4 - - 1 13k 207k 331k 559 8k 151% 55 11% 7.8k 4%
4.6 Barstool Sports 2006
New York
City
Acquired $23.3M - - 3 2 1 3k 1M - - 1k 31% - -
127.2
k
12%
4.5 Tarafdari 2012 Tehran Unfunded - - 5 - 3 - 2k 5.4k 330k 6.6k -2k -43% 1.1k 19% 1.2k 28%
4.4 FanSided 2007 Austin Acquired - - 4 - - 1 19k 30k 409k 2.4k 4k 20% 131 6% -6163 -17%
4.3 The42.ie 2010 Dublin Unfunded - - 4 - 3 - 23k 63k 300k 2.7k -12k -34% 16 1% 1.5k 2%
4.2 SportsBull 2015 Shibuya Funded - - 4 - - - 31k 2.3k 750k 1.6k -127k -78% 650 71% 259 13%
4.1 Sports Line 1994
Fort
Lauderdale
Acquired - - 4 - - - 48k 130 300k 643 14k 39% 134 26% -1 -1%
4.0 SMM SPORT 2014 Bangkok Unfunded - - 5 4 3 - 55k 193 300k 2.5k -12k -17% 133 6% 1 1%
3.9 Sports Flashes 2016 Mumbai Seed $1M - 4 - - 5 827k 3.8k 750k 2.3k -268k -24% 119 6%
-
17207
-82%

Internet-first Media > Market Details > Market: Multi Sector
Market: Multi Sector

Internet-first Media > Market Details > Market: Startups
Companies Created 169 | Funded 32 | Total Funding $71.9M
Market: Startups

Market: Startups

Internet-first Media > Market Details > Market: Women
Market: Women

Market: Women

Internet-first Media > Market Details > Market: Horizontal
Market: Horizontal

Market: Horizontal

Internet-first Media > Market Details > Market: Art & Design
Market: Art & Design

Internet-first Media > Market Details > Market: Network
Market: Network

Internet-first Media > Market Details > Market: Gaming
Market: Gaming

Market: Gaming

Internet-first Media > Market Details > Market: Youth
Market: Youth

Internet-first Media > Market Details > Market: Personalized
Market: Personalized

#2 Top Markets of Early Stage Investors
Internet-first Media > Market Details > Market: Life
Market: Life

Market: Life

Internet-first Media > Market Details > Market: Local
Market: Local

Market: Local

#1 Other Notable Markets
Internet-first Media > Market Details > Market: FinTech
Companies Created 30 | Funded 2 | Total Funding $325k
Market: FinTech

Market: FinTech

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
101
Notable Acquisitions
Top Acquirers
Acqui-hires

Public companies (1/4)
103
Performance indicators of public companies in Internet-first Media
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Jun 2016
Space (1990, New York City)
News coverage and conversation about space science, astronomy
and exploration
$20.6M KOSDAQ:245030
Dec 2015
4-Traders (2009, Annecy)
$8.9M 412.59 KOSDAQ:230490
Aug 2015
Gloo Networks (2015, London)
Media network focusing on acquiring digital brands
$47.6M LON:GLOO
Jul 2014
Planet (2000, Paris)
Digital publishing company operating different websites
$9.8M
EURONEXT:ALP
LA
Sep 2013
MNCMediaInvestment (1999, Jakarta)
Media network which develops content platforms and provides
distribution services
$2.1M $58M ASX:MIH
Oct 2012
theScore (2012, Toronto)
$183M CVE:SCR
Nov 2011
VIVA (2008, Jakarta)
Indonesia-based news portal providing daily news and updates
$199M 28.01 IDX:VIVA
May 2005
India Infoline (1995, Mumbai)
Financial information on public market investing
$3.3B $760M 34.9 BOM:532636
Jan 2003
The Street (1996, New York City)
Online portal for business news, market data and stock analysis
$88.5M 3.2 NASDAQ:TST
Internet-first Media > Exit Outlook > Public Companies

104
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Aug 2000
Marketwatch (1997, San Francisco)
Website providing business and finance news
$449M $34.6M NASDAQ:SCRM
Jun 2000
Rediff (1996, Mumbai)
Online platform providing digital content and e-commerce
marketplace services
$199M $13.8M NASDAQ:REDF
Mar 2000
Lycos (1994, Waltham)
Digital Media company
$36.5M $378M 0.65 BOM:532368
Oct 1999
Women.com (1992, Los Angeles)
Digital Community for women to create and share content
$447M $43.6M NASDAQ:WOMN
Jun 1999
Salon (1995, San Francisco)
American news and opinion website
$113M $4.6M NASDAQ:SALN
May 1999
StarMedia (1996, Miami)
Online media platform providing news focused on Latin Americans
$30.8M $27.1M 11.57 NASDAQ:STRM
Mar 1999
ZDNet (1991, New York City)
A business technology news website
$1.6B $702M NYSE:ZDZ
Leaf Group (2006, Santa Monica)
Diversified internet company operating multiple digital properties
Be Magazine (2010, Boulogne-billancourt)
Digital lifestyle magazine focusing on women's fashion
$202M NASDAQ:BEOS

105
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
AudioBoom (2012, London)
Spoken-word audio platform for hosting, distributing and monetising
content
$1.7M LON:BOOM
Jerrick Media Holdings (2013, Englewood Cliffs)
Produces and distributes digital media content across various
platforms
Triboo Media (2014, Milan)
Italian media network which owns and licenses content sites
Realtid Media (2004, Stockholm)
Media group focusing on the financial industry
Ifanr.com (2008, Guangzhou)
Online media platform for technology and startups related news
PConline (1997, Guangzhou)
Online consumer focused Internet portal of IT-related products and
related services in China
Huxiu (2012, Beijing)
Business and technology news portal
World Business Press Online (2005, Bratislava)
Financial and forex news provider
TheMaven (2016, Seattle)
Group media company functioning across multiple content verticals
Engineering (2000, Mississauga)
Digital media portal for engineering news updates

106
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Aripfan (1989, Bangkok)
Technology and gadget news platform from Thailand
e-Kiosk (2006, Warsaw)
Newspaper and magazine aggregator
$6.3M WSE:EKS
ComtexNewsNetwork (1981, New York City)
Subscription-based personalized news aggregator

Notable Acquisitions (1/4)
107
Notable Acquisitions in Internet-first Media
Internet-first Media > Exit Outlook > Notable Acquisitions
2018 YTD
Acquirer: Future
Purch (2003, Ogden, $176M)
Purch is a portfolio of digital brands and services
Acquirer: Uzabase Deal: $110M
Quartz (2012, New York City)
An online news outlet
Acquirer: BuySellAds
Digg (2004, New York City, $49M)
Aggregates trending stories from social media
Acquirer: Apple
Texture (2009, Menlo Park, $130M)
Multi-platform digital newsstand
2017
Acquirer: Ziff Davis
Mashable (2005, New York City, $46M)
Online social news platform
Acquirer: StackCommerce
Joyus (2011, San Francisco, $43.4M)
Fashion discovery through short videos
Acquirer: Verizon Deal: $4.5B
News and On-line directory
Acquirer: Whirlpool
Yummly (2009, Redwood City, $22.9M)
Personalized food and recipe recommendations
2016
Acquirer: The E.W. Scripps Deal: $4.5M
Stitcher (2008, San Francisco, $21.7M)
Podcast and digital radio station aggregator
Acquirer: Hearst
Complex (2002, New York City, $60.5M)
Online magazine focusing on music, style, pop
culture, sports

108
2015
Acquirer: Axel Springer SE Deal: $442M
Online publisher of business news
Acquirer: Ströer Media AG Deal: $333M
T-Online (1995, Darmstadt)
Advertising-financed digital offering, with news,
advice and shopping content
Acquirer: Zealot Networks Deal: $100M
ViralNova (2013, Overland Park)
Website providing trending stories on the web
Acquirer: Verizon Deal: $4.4B
America Online (1985, New York City)
Global online portal which owns and operates a
suite of famous web brands
2014
Acquirer: Blucora Deal: $45M
HowStuffWorks (1998, Atlanta, $102M)
Podcasts, videos and illustrations on a range of
topics
2013
Acquirer: Chefs Diet Deal: $200k
eDiets (1999, Pompano Beach, $26.3M)
Online portal for weight loss recipes
Acquirer: Ziff Davis
IGN Entertainment (1996, San Francisco,
$35M)
Video game & entertainment media company

109
2012
Acquirer: Ask Deal: $300M
Acquirer: Time Warner Deal: $170M
sports content
Acquirer: RingierAxelSpringer
Deal: $266M
Onet (1996, Krakow)
Online news portal targeting polish readers
Acquirer: Yellomobile
Pikicast (2013, Seoul, $44.9M)
Social news media platform
2011
Acquirer: America Online Deal: $315M
Huffington Post (2005, New York City, $37M)
Crowdsourced online news site
2010
Acquirer: TotalBeauty
Lime Life (2004, Los Angeles, $33.6M)
Cross-platform resource for beauty advice and
reviews

110
Before 2008
Acquirer: Comcast Deal: $125M
DailyCandy (2000, New York City)
Daily email newsletter and website with fashion
and lifestyle content
Acquirer: CBS Corporation Deal: $1.8B
CNET (1994, San Francisco)
Website for product reviews, software downloads
and tech news
Acquirer: Dun & Bradstreet Deal: $55M
AllBusiness (1999, San Francisco, $37.4M)
Online resource for small businesses, providing
essential tools and resources
Acquirer: Axel Springer SE Deal: $382M
Aufeminin (1999, Paris)
Online woman’s portal
Before 2008
Acquirer: Apax Partners Deal: $375M
Incisive Media (1994, London)
B2B media company and events organizer
Acquirer: IAC
CollegeHumor (1999, Los Angeles, $20M)
Online entertainment company featuring videos,
pictures, article and jokes
Acquirer: Dow Jones Deal: $528M
MarketWatch (1997, San Francisco)
Website covering business and financial news

Most Active Acquirers
111
Internet-first Media > Exit Outlook > Most Active Acquirers

Date Target
Jul-17
India Web Portal Acq by Zee
Entertainment Enterprises
Jul-17 Techli Acq by Publicize
Jul-17 Theatermania Acq by AudienceView
Jul-17 Omni Acq by Penthouse
Jun-17 Anime News Network Acq by HIDIVE
Jun-17 Destructoid Acq by Enthusiast Gaming
Jun-17 EQ Acq by L&T Co.
Jun-17 Triple Pundit Acq by 3BL Media
May-17 REV Asia Acq by Media Prima
May-17
Spoon University Acq by Scripps
Networks Interactive
May-17
Rock Paper Shotgun Acq by Gamer
Network
Apr-17
MadameNoire Acq by Interactive One
Digital
Apr-17 Invezz Acq by Investoo Group
Apr-17 Elite Daily Acq by Bustle
Acqui-hires (1/2)
112
List of Acqui-hires in Internet-first Media
Excludes all details for Chinese companies
Date Target
Jul-18 Noupe Acq by JotForm
Jul-18 ScreenJunkies Acq by FANDOM
May-18 TheBull Acq by Catena Media
May-18 Wamiz Acq by Purina
Apr-18 FiveThirtyEight Acq by ABC News
Apr-18 AlterNet Acq by RawStory
Apr-18
Moviefone Acq by Helios & Matheson
Analytics Inc.
Apr-18 Green Rush Daily Acq by High Times
Mar-18 The Zoe Report Acq by Bustle.company
Mar-18 LittleThings Acq by RockYou
Mar-18
SheKnows Media Acq by Penske Media
Corporation
Feb-18 Gamer Network Acq by ReedPOP
Feb-18 Gothamist Acq by WNYC Radio
Feb-18 LAist Acq by 89.3 KPCC
Date Target
Feb-18 DCist Acq by WAMU
Feb-18 The Memo Acq by Forbes
Jan-18 Novobrief Acq by ESPACIO
Jan-18 Tech Cocktail Acq by MVF
Jan-18 Kitchen Stories Acq by BSH Hausgerate
Jan-18 Inside Acq by The News Lens
Dec-17
AcquireMedia Acq by NEWSCYCLE
Solutions
Dec-17 Mumbrella Acq by divcom.com
Nov-17 News Republic Acq by Toutiao
Oct-17 TheTechPanda Acq by ESPACIO
Sep-17 Newsfast Acq by Asianet News Network
Aug-17 Babyology Acq by Kinderling
Aug-17 GenomeWeb Acq by Cancer Genetics
Aug-17 DMN Acq by AC Business Media
Internet-first Media > Exit Outlook > Acqui-hires

Date Target
Jun-16 Techvibes Acq by Konrad Group
Jun-16 TheGrio Acq by Entertainment Studios
Jun-16 IrishCentral
Jun-16
The Wirecutter Acq by The New York
Times
May-16 Ghafla Acq by Ringier AG
May-16 Medical News Today Acq by Healthline
Apr-16 Simply Recipes Acq by Fexy
Apr-16 Ryot Acq by America Online
Apr-16 HitFix Acq by Woven
Apr-16 Cracked Acq by The E.W. Scripps
Mar-16
Press Start Australia Acq by
SouthernCrossAustereo
Feb-16 Social Media Today Acq by Industry Dive
Feb-16 Fast Lane Daily Acq by TimeInc
Feb-16 TICbeat Acq by Axel Springer SE
Acqui-hires (2/2)
113
List of Acqui-hires in Internet-first Media
Excludes all details for Chinese companies
Date Target
Mar-17 Connect Jaipur Acq by BlueBox Media
Feb-17 Startups Acq by MVF
Feb-17 Rover Acq by Revcontent
Feb-17 CultureMap Acq by Gow Media
Feb-17 Scout Media Acq by CBS Sports
Jan-17 Watchup Acq by Plex
Jan-17 Sonr Acq by audioBoom
Jan-17
Lifestyle Asia Acq by Hubert Burda
Media
Dec-16 Sanook Acq by Tencent
Dec-16 Stereogum Acq by Billboard
Dec-16 Spin Acq by Billboard
Dec-16 VIBE Acq by Billboard
Dec-16 Scoop Acq by Kompas Gramedia
Dec-16 GiveMeSport Acq by Breaking Data Corp
Date Target
Dec-16 MinuteBuzz Acq by TF1
Oct-16
CollegeFashionista Acq by Clique Media
Group
Oct-16
The Sweethome Acq by The New York
Times Company
Oct-16 Euroinvestor Acq by Q4
Oct-16 Motor1.com Acq by MyGaraj
Sep-16 Skinny Mom Acq by Womanista
Sep-16 A Plus Acq by Chicken Soup
Sep-16 Pipes App Acq by Trybeca
Aug-16 Jezebel Acq by LittleThings
Aug-16 Hoodline Acq by Ripple
Aug-16 Ripple Acq by Hoodline
Jul-16 Light Reading Acq by Informa
Jul-16
Greentech Media Acq by Verisk
Analytics
Jul-16 Adweek Acq by Beringer Capital
Internet-first Media > Exit Outlook > Acqui-hires
View all 247 Acqui-hired companies on Tracxn Platform

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
114
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players

Internet-first Media > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in Internet-first Media; Last 5 years (Aug 2013 - Jul 2018)
Index of Most Active VC & PE Investors
SEED STAGE
Lerer Hippeau Ventures (4 Investments)
Comcast Ventures (3 Investments)
Omidyar Network (3 Investments)
Social Starts (3 Investments)
Social Capital (3 Investments)
Lightspeed Venture Partners (2 Investments)
RRE Ventures (2 Investments)
Bertelsmann Digital Media Investments (2
Investments)
Greylock Partners (2 Investments)
Betaworks (2 Investments)
Homebrew (2 Investments)
East Ventures (2 Investments)
Vayner/RSE (2 Investments)
Red Sea Ventures (2 Investments)
EARLY STAGE
Lerer Hippeau Ventures (6 Investments)
Advancit Capital (6 Investments)
Sequoia Capital (4 Investments)
North Base Media (4 Investments)
New Enterprise Associates (3 Investments)
Omidyar Network (3 Investments)
Felix Capital (3 Investments)
Social Starts (3 Investments)
Kalaari Capital (3 Investments)
Bertelsmann Digital Media Investments (3
Investments)
IVP (2 Investments)
Lightspeed Venture Partners (2 Investments)
Accel Partners (2 Investments)
Raine Group (2 Investments)
LATE STAGE
GV (2 Investments)
Lerer Hippeau Ventures
IVP
Lightspeed Venture Partners
Accel Partners
Comcast Ventures
Khosla Ventures
Legend Capital
Andreessen Horowitz
Danhua Capital
General Atlantic
SMBC Venture Capital
Stripes Group
General Catalyst Partners
Marker

Tracxn - Internet-first Media Startup Landscape

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