Photo: Mic

The millennial-focused website Mic is considering an acquisition, its CEO and founder Chris Altchek told staff in an email Friday.

Why it matters: The company has struggled financially in light of some of the changes to the digital media landscape, including Facebook pulling back on traffic referrals to news websites last year.

Its board members met as part of a regularly scheduled meeting, and discussed possible options including an inbound acquisition offer. The meeting has been confirmed by Axios and was first reported by the Wall Street Journal.

One of Mic's biggest revenue streams was digital advertising, which, like the rest of the industry, has struggled to grow amid the dominance of Google and facebook.

In his memo to staff Altchek said the company has "diversified revenue meaningfully into Brand Newsroom and video journalism licensing and we are in a good position to continue this growth."

Read the full memo from Chris Altchek to staff below.

Team, 

For those not in the office, I want to address the recent WSJ story. To offer more context, Mic has received acquisition interest. Similarly to past inbounds, we are focused on putting Mic in the best position to pursue our mission and are flattered that others recognize our value and potential.  

Journalistically, we’re doing our best work yet and reaching audiences more consistently than ever. On the business side, we’ve diversified revenue meaningfully into Brand Newsroom and video journalism licensing and we are in a good position to continue this growth.

Please let me know any questions. 

Thank you

Chris

Go deeper

Updated 24 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6:15 p.m. EST: 32,062,182 — Total deaths: 979,701 — Total recoveries: 22,057,268Map.
  2. U.S.: Total confirmed cases as of 6:15 p.m EST: 6,967,103 — Total deaths: 202,558 — Total recoveries: 2,670,256 — Total tests: 97,459,742Map.
  3. Health: Cases are surging again in 22 states — New York will conduct its own review of coronavirus vaccine.
  4. Business: America is closing out its strongest quarter of economic growth.
  5. Technology: 2020 tech solutions may be sapping our resolve to beat the pandemic.
  6. Sports: Here's what college basketball will look like this season.
  7. Science: During COVID-19 shutdown, a common sparrow changed its song.
2 hours ago - Podcasts

The child care tax on America's economy

Child care in the U.S. is in crisis, which makes it much harder for the American economy to recover — as providers struggle to stay in business and parents wrestle with work.

Axios Re:Cap digs into the problems and what can be done to solve them, with Vox senior reporter Anna North.

Viral load is a puzzle in COVID-19

Illustration: Eniola Odetunde/Axios

How sick a person gets from a virus can depend on how much of the pathogen that person was exposed to and how much virus is replicating in their body — questions that are still open for the novel coronavirus.

Why it matters: As people try to balance resuming parts of their daily lives with controlling their risk of COVID-19, understanding the role of viral load could help tailor public health measures and patient care.

Get Axios AM in your inbox

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

Please enter a valid email.

Subscription failed
Thank you for subscribing!