Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with the Axios Sports newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with the Axios Des Moines newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with the Axios Tampa Bay newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Sarah Grillo/Axios

Bustle Digital Group is formally rebranding to BDG, its founder and CEO Bryan Goldberg tells Axios. The new logo and name will roll out Tuesday.

Why it matters: The rebrand will help position the company as a holding group that houses many different digital brands ahead of its anticipated IPO.

  • "As much as Bustle was our first and still largest property, we want to recognize all of the other great brands that are already on platform and that will be joining platform," Goldberg says.
  • BDG is still planning to go public via a SPAC (special purpose acquisition company) later this year, Goldberg confirmed.

Details: Bustle was founded by Goldberg in 2013 as an online women's magazine. The company has since expanded into several different verticals across 9 sites, including tech and fashion.

  • BDG currently has around 500 employees, and expects to add another 100 this year.
  • Its editorial franchises include Bustle, Elite Daily, Input, Inverse, Mic, Nylon, Romper, W and The Zoe Report.
  • Later this year, Goldberg says the company is finally planning to relaunch the storied Gawker brand, which it purchased in 2018.
  • It's been reported that BDG is aiming for an IPO of at least $600 million, including debt. The company doesn't dispute that figure.

From a business perspective, "The company is incredibly healthy right now," Goldberg says, noting that BDG is profitable.

  • Goldberg says the business recovered quickly from the initial pandemic-driven advertising slowdowns, but still has yet to realize its full potential when it comes to live events. (The company acquired Flavorpill, an experiential brand focused on events, in 2018.)
  • "Experiential was a big part of our plan," he said. "We had a lot of plans in place before those were wiped out by the pandemic. I'm excited to bring those plans back to life."
  • This year, the company will bring in over $100 million of revenue.

Be smart: Unlike many digital media companies scrambling to diversify revenues away from being solely reliant on advertising, Goldberg says Bustle plans to double down on ads, and bring more ad-tech in-house.

  • "We view digital advertising as being a business that's worth $1 billion for us before the end of this decade," he says.
  • "Our goal is within the next two years to have as little third-party ad tech on our sites as possible. To be the best at what we do, we need to own as much of the ad stack as possible."
  • Goldberg notes that once the company is public, he can foresee BDG one day buying ad tech companies to support its business.

What's next: "We're hoping to add several more brands in the coming year," Goldberg says. In the future, he envisions having 20-30 brands on the platform.

  • Asked which types of websites he's eyeing, Goldberg says, "everything is on the table."
  • "Our core will always be lifestyle and female-facing media brands, but with that being said, we see great opportunities outside of that core."

Go deeper

Aug 10, 2021 - Economy & Business

Investment in digital media slows, years after venture-backed boom

Expand chart
Data: Pitchbook; Table: Axios Visuals

Media upstarts are attracting far less cash compared to the venture-backed media boom of 2014 and 2015, according to new data from Pitchbook.

Why it matters: Investors are no longer willing to shell out hundreds of millions of dollars on new digital media sites, given how long it's taken for some of those investments to materialize and drive major returns.

Updated 7 hours ago - World

UK government: Kremlin has plan "to install pro-Russian leadership" in Ukraine

British Foreign Secretary Elizabeth Truss. Photo: Gints Ivuskans / AFP via Getty Images

The United Kingdom's Foreign Secretary on Saturday night said the government has "information that indicates the Russian Government is looking to install a pro-Russian leader in Kyiv as it considers whether to invade and occupy Ukraine."

Driving the news: U.S. National Security Council spokeswoman Emily Horne called the intelligence "deeply concerning" in a statement to Axios. The Biden administration has said Russia is actively manufacturing a pretext for invasion and warned that Putin could use joint military exercises in Belarus as cover to invade from the north.

Updated 8 hours ago - Science

This powerful new accelerator looks for keys to the center of atoms

Illustration: Eniola Odetunde/Axios

Nuclear physicists trying to piece together how atoms are built are about to get a powerful new tool.

Why it matters: When the Facility for Rare Isotope Beams begins experiments later this spring, physicists from around the world will use the particle accelerator to better understand the inner workings of atoms that make up all the matter that can be seen in the universe.

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!