Broadcaster NBCUniversal confirmed a $200m investment in digital media company Vox Media yesterday, investing at what multiple sources have told Re/code is a $1.05bn post-money valuation.
Vox Media runs eight online properties: American sports-focused SB Nation, video game-themed Polygon, technology site The Verge, the news and politics-based Vox.com, food media site Eater, shopping-focused Racked, real estate-themed Curbed, and technology finance news site Re/code.
Re/code originally reported the prospective investment and valuation two weeks ago without knowing the investment size, stating at the same time that NBCUniversal was lining up a $250m investment in another online media company, Buzzfeed, at a $1.5bn valuation.
The Buzzfeed investment, which will reportedly be announced later this week, is now set to be $200m according to Re/code, though the post-money valuation will remain $1.5bn.
Jim Bankoff, CEO and chairman of Vox Media, said: “NBCUniversal’s valuable family of properties align especially well with Vox Media’s authoritative, voice-driven brands which span sports, tech, news, fashion, food and more.
“We are extraordinarily excited to collaborate in many areas including video programming, brand advertising, cross-promotion, and platform technology to grow existing properties and launch new franchises.”
Vox has raised a total of about $325m since it was founded in 2004, most recently closing $46.5m in funding from growth equity firm General Atlantic in December 2014 that valued it at $380m.
Mass media company Comcast, which is NBCUniversal’s parent company, is also a past investor in Vox, as are Accel Partners, Allen & Company, Khosla Ventures and assorted angel investors.
Comcast led Vox’s $8m series B round in 2009 through its corporate venturing unit at the time, Comcast Interactive Capital (CIC), investing alongside Accel, Allen & Co and Ted Leonsis. It also participated in a $10.5m round the following year, through CIC’s successor, Comcast Ventures.
News of the investment also follows reports in May this year that Comcast was considering acquiring Vox, though those plans now appear to have been sidelined.