The SPAC boom could rescue digital publishers like Buzzfeed and Vice from despair
Should Big Tech pay publishers to circulate news?
February 22, 2021
Over 90 pc of tech industry continue to work from home: Premji
February 22, 2021
Alex Sherman from cnbc said that Bustle Digital Group, Group Nine, Vox, Vice and Buzzfeed have all had recent conversations about going public via special-purpose acquisition vehicle this year, according to people familiar with the matter. Group Nine has taken a further step, actually launching its own SPAC to facilitate the process of digital media companies going public.
There will probably be some consolidation among that group of five in the coming months before going public, said Bustle Digital Group founder and CEO Bryan Goldberg, who said he’s in conversations with several SPACs. Bustle has annual revenue of about $100 million and is looking to trade at about a $600 million valuation, he says. Its media properties skew cater toward a female audience and include Bustle, Elite Daily, Mic, Nylon and The Zoe Report.
“Of the five of us, I wouldn’t be surprised if five turns into three,” said Goldberg in an interview. “Maybe it’s five to four. I don’t think five will turn into one or two. These companies do merge well. They capture a lot of synergy on cost and revenue when they merge.”
CNBC International is the world leader for news on business, technology, China, trade, oil prices, the Middle East and markets.
