Vox Media Buys Curbed Network
Purchase brings three new verticals, but a familiar approach.
Weeks after securing up toÂ $40 million in a fundingÂ round, Vox Media is spending some of the windfall.
The digital media company behind SB Nation, The Verge and Polygon has purchased the Curbed Network for a reported $20 to $30 million in cash and stock. The acquisition includes three locally-focused blog sites centered on real estate (Curbed), restaurants (Eater) and shopping (Racked) that publish in 32 markets and get about 5 million monthly unique visitors, per Quantcast metrics.
The market-by-market approach is reminiscent of Voxâs largest property, sports site SB Nation, which relies on individualized team blogs for most of its content.
All things considered, it seems to be a fairly small addition for Vox whoâs core properties get more than 10-times the traffic of the Curbed Network. Vox has increased their numbers significantly in a short time thoughâalmost 90 percentÂ year-over-yearâso the company is well positioned to help the Curbed sites grow.
For Jim Bankoff, CEO of Vox, thereâs already value on the ad side.
âBoth Vox and Curbed value storytelling and as a result have attracted the otherwise hard to reach young, affluent, social consumers,â heÂ tells The New York Times. âWe think this combined expanded platform will clearly attract premium advertisers.â
The model is apparently working. Lockhart Steele, founder of the Curbed Network and editor-in-chief of the three sites,Â tells MashableÂ the site has been profitable since 2010.
Steele will remain in his current role, though he expects operations to be moved to Voxâs New York offices.