Axios (website)

Axios
Axios logo
Type of site
 News and opinion
Available in English
Owner Axios Media Inc.
Key people
Website axios.com
Alexa rank

Increase 4,231 (Global April 2018)[1]

1,021 (US April 2018)[1]
Commercial Yes
Registration Optional
Launched 2017
Current status Active

Axios (stylized as AXIOS) is an American news and information website founded in 2016 by Politico co-founder Jim VandeHei, Politico's former chief White House correspondent, Mike Allen, and former Politico chief revenue officer, Roy Schwartz. The site's name is based on the Greek: ἄξιος (áxios), meaning "worthy". It officially launched in 2017.[2] The company had raised $30 million, as of November 2017.[3]

History

The company initially targeted coverage of a mix of news about business, politics, technology, healthcare, and media. Founder VandeHei said Axios would focus on the “collision between tech and areas such as bureaucracy, health care, energy, and the transportation infrastructure".[2] At launch, Nicholas Johnston, a former managing editor at Bloomberg LP was named editor-in-chief.[4] VandeHei said Axios news articles are characterized by "smart brevity", intended to be brief, specialized, high-quality, and easily shareable.[2] Typical articles feature bullet points for easy scanning and are shorter than 300 words.[5]

The content is designed to live on digital platforms, such as Facebook and Snapchat, as well as its own website.[2] Reporters have made appearances on television news on NBC News and MSNBC through a deal with NBC.[4] Its NBC Universal partnership has featured Axios co-founder Mike Allen on its show Morning Joe.[6][7] Content is distributed via newsletters covering politics, technology, healthcare, and other subjects. Among the newsletters is a daily report by Mike Allen, who formerly wrote the Playbook newsletter for Politico.[2]

In January 2017, the company hired as an executive vice president, Evan Ryan, the assistant secretary of state for educational and cultural affairs and a former staffer for Vice President Joe Biden.[8]

In March 2017, the company said it had 60 employees with 40 working in editorial.[9] Axios.com has six million visitors in September 2017, according to comScore. As of November, 2017, Axios said it had 200,000 subscribers to 11 newsletters, with an average open rate of 52%. That same month, Axios said it would use a new $20 million investment to expand data analysis, product development, fund audience growth, and increase staff to 150, up from 89.[3]

Overview

The company launched with a mission statement that consisted of, "Media is broken—and too often a scam".[10] It planned to focus on "business, technology, politics, and media trends".[2] Furthermore, they disavowed the use of banner ads, pop-ups, and clickbait titles, using native advertising instead. The article style was focused on brevity, clear structure, and often features bullet points.[11]

The company earned more than $10 million in revenue in its first seven months, primarily with native advertising that appears in between stories.[3] The company has projected half its revenue to come through subscriptions.[2] Jonathan Swan is a notable correspondent.

Financials

In the summer of 2016, Axios secured $10 million in a round of financing led by Lerer Hippeau Ventures. Backers include media-partner NBC News; Emerson Collective, the investment vehicle of Laurene Powell Jobs, the widow of Steve Jobs; Greycroft Partners; and David and Katherine Bradley, owners of Atlantic Media.[2]

In November 2017, Axios said that it had raised an additional $20 million.[3][12] WndrCo, a media-and-technology firm founded by DreamWorks CEO Jeffrey Katzenberg, is a new investor in the round.[13]

References

  1. 1 2 "Axios.com Site Info". Alexa Internet. Retrieved 9 April 2018.
  2. 1 2 3 4 5 6 7 8 Ellison, Sarah (2016-11-30). "Exclusive: Mike Allen and Jim VandeHei Reveal Their Plan for Media Domination". Vanity Fair. Retrieved 2017-09-29.
  3. 1 2 3 4 Mullin, Benjamin (2017-11-17). "Axios Raises $20 Million to Fund Newsroom Expansion". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-11-27.
  4. 1 2 Alpert, Lukas I. (2016-09-06). "Politico Co-Founder Jim VandeHei to Launch News Venture for Professionals". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-11-27.
  5. ↑ Dillet, Romain. "Media startup Axios raises another $20 million". TechCrunch. Retrieved 2017-11-27.
  6. ↑ Wemple, Erik (2017-01-24). "Opinion | NBC boosts Axios out of the gate". Washington Post. Retrieved 2017-12-29.
  7. ↑ "Mike Allen: Axios Is For What You Would Talk About With Your "Smart Friend"". realclearpolitics.com. Retrieved 2017-12-29.
  8. ↑ Fox, Emily Jane. "Jim VandeHei and Mike Allen Bring on Washington Insiders to Help Run Axios". The Hive. Retrieved 2017-11-27.
  9. ↑ Fox, Emily Jane. "Exclusive: Axios Has Another Trick Up Its Sleeve". The Hive. Retrieved 2017-11-27.
  10. ↑ Shephard, Alex (2017-05-02). "Axios and Donald Trump Are Made For Each Other". New Republic. Retrieved 2017-05-14.
  11. ↑ "About Axios: The Axios Manifesto". Axios. Retrieved 2017-04-15.
  12. ↑ Lawton, Joanne (2017-11-17). "Axios secures $20M funding round less than a year after launch". www.bizjournals.com. Retrieved 2017-11-28.
  13. ↑ "Jeffrey Katzenberg's WndrCo Tenders Investment In News Startup Axios - Tubefilter". Tubefilter. 2017-11-17. Retrieved 2017-11-28.
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