That roof over your head is so much more than shelter, and that bite of food is so much more than sustenance. At least this is the case for the Curbed network — and now for Vox Media as well.
Yesterday Vox Media announced the acquisition of three popular digital media brands — Curbed, Eater, and Racked — doubling the number of media properties in its portfolio. Fortune estimates the deal to be worth as much as $30 million.
Curbed is a real estate blog that weaves together the nuts and bolts of real estate with local news, celebrity gossip, and architectural and cultural commentary. It was founded in 2004, and it has since spun out two more blogs: Eater for food and Racked for retail. All three have a national site as well as local subsidiaries. Eater was founded in 2005 and features local content for 27 cities around the U.S. Curbed has a presence in 17 markets, and Racked, launched in 2007, is in eight.
The sites collectively bring in 5 million monthly unique visitors, which could help Vox Media gain a foothold in these new categories.
Vox is one of the most well-funded media startups on the Internet.
It recently closed a hefty $40 million round of funding to expand its network of three media properties — sports news and blogging community SBNation, tech/gadgets site The Verge, and gaming site Polygon.
Vox Media grew its combined audience by 88 percent over the past year (the launch of Polygon in 2012 helped boost those numbers) and attracts nearly 57 million unique visitors. CEO Jim Bankoff said the company is on track to be profitable this year.
Vox Media and BuzzFeed — which hit 85 million unique visitors in August and is expected to generate $40 million in revenue this year — are two recent media startups that have taken over, showing the demand for interesting, topical, and entertaining digital content (and cat pictures).
Few industries have been as strongly impacted by the Internet as the media industry. Consumption of news and entertainment rapidly transitioned from paper to the freedom of Internet distribution, where anyone can have a say and there are infinite places to get information.
Vox Media is based in Washington, D.C.
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