Online publisher Vox Media purchased Curbed for an amount between the range of USD20 million to USD30 million. This was according to a report published by TechCrunch.
The company logo of Vox had already appeared on the homepage of Curbed.com. The transaction was made with a combination of stock and cash. This type of deal was usually done when a fast-growing company like Vox prefer to keep its cash and use equity to conserve short-term capital, the report explained.
Vox had already raised USD57.5 million to date. However, it was still unclear how much of that amount was used for the acquisition deal, TechCrunch reported.
The Curbed network is made up of Curbed, Racked, and Eater. This network is smaller than Vox. Curbed gathers about 35 million pageviews every month from 5.1 visitors, according to audience demographics company Quantcast. The Vox Network has around 177 million pageviews every month from 41 million visitors, the report said.
Vox now publishes for websites targeting fashion, food, and local markets. The company's recent purchase of the Curbed network could signal its expansion into the national market, TechCrunch said.
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