For an informative website, it is becoming increasingly difficult to remain independent, especially when one has a modest size. A little over a year after its creation, Recode has decided to be acquired by the Vox Media Group, owner of The Verge and SB Nation Sports website. The operation was to be announced Wednesday, May 27, the New York Times.
Recode was launched by Walt Mossberg and Kara Swisher, after their departure in September 2013 from the Wall Street Journal, where they had created and led for six years AllThingsD, a site specializing in new technologies. But despite a recognized influence in the middle of the High Tech, Recode has struggled to find its audience. Its audience does not exceed 1.5 million regular monthly visitors, according to research company comScore, which is Insufficient to sustain the 44 workers employed by the site.
By being acquired for an amount that was not disclosed, Recode wants to change dimension. Vox Media through its various sites in April totaled more than 53 million unique visitors. The Verge is counting alone with 12 million.The group, which is valued $ 400 million after a recent fundraiser of 46.5 million from the private equity firm General Atlantic, putting the complementarity of the two sites to advance the hearings, while savings the scale in terms of advertising and marketing.
Vox Media puts his hand on the very lucrative part of Recode posed conferences, able to attract the stars of Silicon Valley, on the model of those who had made the success of AllThingsD.The idea of M.Bankoff is to build a kind of Time digital media. In the fall of 2013, Vox Media bought Curbed Network, which publishes such Curbed, a blog specializing on real estate and Racked, a site about fashion and shopping. In April 2014, the group also launched Vox.com headed by Ezra Klein, the founder of Wonkblog, economic blog of the Washington Post.
The shareholders of Recode, including the investment firm Windsor Media and NBC Universal News Group, will exchange their shares against a small portion of the capital of Vox Media.