Group Nine Media Acquisition, Valuation, Funding & Investors

Group Nine Media was acquired by Vox Media in December 2021.

Group Nine Media acquisition price

Undisclosed

Acquired by Vox Media · Dec 2021

Cumulative funding Group Nine Media raised

$190M

across 3 funding rounds

Key investors in Group Nine Media

Group Nine Media Overview

About Group Nine Media

Group Nine Media is a New York-headquartered digital publisher reaching 150 million monthly users via social platforms. It owns Thrillist for food and travel, NowThis for news videos, The Dodo for animal content, and Seeker for science topics. The company produces short-form videos optimized for Facebook, Instagram, and Snapchat.


Founded

2013

HQ

United StatesNew York City, NY

Status

Acquired

Customer focus

B2C

Revenue model

Advertising

Valuation

$600M (Sep 2019)

Group Nine Media Acquisition

Group Nine Media was acquired by Vox Media for an undisclosed price on 13 December 2021.

Before the acquisition Group Nine Media had raised $190M across 3 funding rounds.

Vox Media announced the acquisition of Group Nine Media on December 13, 2021, with the deal closing on February 22, 2022. Group Nine Media owns popular digital publishing properties including Thrillist, NowThis, The Dodo, Seeker, and POPSUGAR, focusing on video, social media, and lifestyle content. The transaction is structured as an all-stock deal where Vox Media owns 75% of the combined company and Group Nine owns 25%, with Vox Media CEO Jim Bankoff leading the entity and Group Nine CEO Ben Lerer joining the board alongside Discovery, Group Nine's largest minority investor. The merger creates a top 10 U.S. media company by audience reach, with 130 million monthly domestic users and nearly 350 million social media followers across platforms like YouTube, TikTok, Facebook, and Instagram. The combined company is projected to generate $700 million in revenue and $100 million in profit in 2022, enhancing advertising capabilities through integrated branded content, performance marketing, and programmatic solutions. Vox Media integrates Group Nine's audience insights into its first-party data platform Forte and ad marketplace Concert. This consolidation reflects broader trends in digital media, aiming for scale amid industry challenges, with the combined entity positioned for potential future IPO though no immediate plans were announced.

Group Nine Media acquisition details
AcquirerDateType
  • Vox Media
13 Dec 2021Strategic M&A

Group Nine Media Valuation

Group Nine Media is currently valued at $600M, based on its undisclosed-stage round in September 2019.

The $50M round was led by Warner Bros. Discovery, with participation from Axel Springer.

Group Nine Media's valuation has grown 1.0x from $585M at its undisclosed-stage round in October 2016 to $600M in September 2019, across 3 priced rounds.

Group Nine Media valuation by funding round

Group Nine Media valuation by funding round
DateStageValuation
Sep 2019Undisclosed stage$600M
Nov 2017Undisclosed stage$600M
Oct 2016Undisclosed stage$585M

Group Nine Media Funding History

Group Nine Media has raised a total of $190M across 3 funding rounds.

Group Nine Media's first fundraising round was a $100M undisclosed-stage round in October 2016. The most recent completed round was a $50M undisclosed-stage round in September 2019.

Group Nine Media funding rounds

Group Nine Media funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2019Undisclosed stageWarner Bros. Discovery (lead); Axel Springer$50M$600M-
Nov 2017Undisclosed stageWarner Bros. Discovery (lead); Lerer Hippeau; Axel Springer Digital Ventures$40M$600M-
Oct 2016Undisclosed stageWarner Bros. Discovery (lead); Lerer Hippeau; SBNY$100M$585MGroup Nine Media launched in October 2016 as a digital media holding company combining millennial-focused brands Thrillist Media Group, NowThis Media, The Dodo, and Discovery's Seeker network along with SourceFed Studios. Discovery Communications invested $100 million as a minority stake with an option for future controlling interest, while Axel Springer maintained the second-largest shareholder position; Ben Lerer of Thrillist became CEO. The investment funded growth in sales team expansion, branded content studio, new verticals, and content development. Prior funding included Discovery's rounds in The Dodo (2014-2015) and Lerer Hippeau's involvement in The Dodo and NowThis. The company targeted young audiences with mobile video content, achieving 3.5 billion monthly video views and 12 billion social impressions, with 30 million YouTube followers and 40 million on Facebook. It focused on branded content sales rather than programmatic advertising. Discovery integrated Group Nine into its digital push, building on prior acquisitions like Revision3 (2012) and DeFranco Creative (2013), now rebranded as Seeker and SourceFed. This round valued Group Nine Media at $585 million post-investment, per reporting on the launch. A subsequent 2018 round raised $50 million from Discovery and Axel Springer at over $600 million valuation, bringing total funding to $190 million. Funds supported IP investments, commerce division growth, and production deals with Netflix, Comedy Central, and others. The structure allowed brands independence while leveraging combined scale against consolidating digital media landscape.

Who has invested in Group Nine Media?

5 investors have backed Group Nine Media across its funding rounds, including Warner Bros. Discovery, Lerer Hippeau, Axel Springer, Axel Springer Digital Ventures and SBNY.

Lead investors include Warner Bros. Discovery.


Group Nine Media Investors

Investors in Group Nine Media by funding rounds participated
InvestorHQRoundsRoleFirst check
Warner Bros. DiscoveryUnited StatesNew York City, NY3LeadOct 2016
Lerer HippeauUnited StatesNew York City, NY2ParticipantOct 2016
Axel Springer Digital VenturesGermanyBerlin1ParticipantNov 2017

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Acquisitions by Group Nine Media

Group Nine Media has acquired 2 companies to date.

Last acquisition by Group Nine Media was on October 7th 2019. Group Nine Media acquired POPSUGAR for $300M.


Latest Acquisitions by Group Nine Media

POPSUGAR
Jash
Description
-
Los Angeles-headquartered JASH is an entertainment production company specializing in comedy series, features, podcasts, animation, and live events. Formed in 2012 under Google's content initiative at Sunset Gower Studios, the studio develops genre-reviving content for global audiences with talents including Sarah Silverman, Michael Cera, Reggie Watts, and Tim & Eric.
HQ CountryUnited StatesUnited States
HQ City
-
Los Angeles, CA
Deal Date7 Oct 20197 Nov 2017
Valuation$300Mundisclosed
EV/Revenue
EV/EBITDA

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Group Nine Media Competitors

Group Nine Media competitors include listed companies like RUM Group and Viaplay, and private ones like iQiyi Sports, Pocket FM, Panda TV and NewsBreak.

Public and private companies comparable to Group Nine Media
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
iQiyi SportsChinaBeijingPrivate--$486M-
Pocket FMIndiaIndiaPrivate$150M-$750M5.0x
Panda TVChinaChinaPrivate--$360M-
NewsBreakUnited StatesSan Francisco, CAPrivate--$1.1B-
RUM GroupUnited StatesUnited StatesPublicly listed$101M($78M)$3.6B19.4x
ViaplaySwedenSwedenPublicly listed$1.8B($40M)$631M0.6x

Group Nine Media Public Comps

Group Nine Media is no longer listed, but its public comps include Weathernews, Viaplay, Cover, Better Collective, AMC Global Media, Wirtualna Polska, HUYA, Stingray Group, Bemobi and Zee Entertainment.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Weathernews$157M$38M2.9x2.9x11.9x11.9x
Viaplay$1.8B($40M)0.7x0.6x(29.5x)11.7x
Cover$317M$34M1.9x1.9x17.6x9.8x
Better Collective$388M$100M2.5x2.4x9.8x7.7x
AMC Global Media$2.3B$1.2B0.8x0.8x1.5x4.4x
Wirtualna Polska$585M$102M1.4x1.3x8.1x5.6x
HUYA$970M($27M)0.1x0.1x(4.2x)11.3x
Stingray Group$328M$28M3.5x2.9x40.8x8.5x

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Common questions about Group Nine Media

When was Group Nine Media founded?Group Nine Media was founded in 2013.
Where is Group Nine Media headquartered?Group Nine Media is headquartered in New York City, NY, United States.
Is Group Nine Media publicly listed?No, Group Nine Media was acquired by Vox Media in December 2021.
Who acquired Group Nine Media?Group Nine Media was acquired by Vox Media in December 2021.
What is Group Nine Media's valuation?Group Nine Media was last valued at $600M in its undisclosed-stage round in September 2019.
How much funding has Group Nine Media raised?Group Nine Media has raised $190M across 3 funding rounds.
What was Group Nine Media's last funding round?Group Nine Media's last funding round was a $50M undisclosed-stage round in September 2019, led by Warner Bros. Discovery.
Who are Group Nine Media's investors?Group Nine Media's investors include Warner Bros. Discovery, Lerer Hippeau, Axel Springer Digital Ventures, Axel Springer and SBNY.
Which companies are comparable to Group Nine Media?Companies comparable to Group Nine Media include iQiyi Sports, Pocket FM, Panda TV, NewsBreak, RUM Group and Viaplay.
How many companies has Group Nine Media acquired?Group Nine Media has acquired 2 companies, including POPSUGAR and Jash.
What was the largest acquisition by Group Nine Media?The $300M acquisition of POPSUGAR in October 2019 is the largest acquisition Group Nine Media has made to date.

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