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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

Using apps to prevent deadly police encounters

Illustration: Sarah Grillo/Axios

Mobile phone apps are evolving in ways that can stop rather than simply document deadly police encounters with people of color — including notifying family and lawyers about potential violations in real time.

Why it matters: As states and cities face pressure to reform excessive force policies, apps that monitor police are becoming more interactive, gathering evidence against rogue officers as well as posting social media videos to shame the agencies.

Dan Primack, author of Pro Rata
11 hours ago - Technology

TikTok gets more time (again)

Illustration: Aïda Amer/Axios

The White House is again giving TikTok's Chinese parent company more to satisfy national security concerns, rather than initiating legal action, a source familiar with the situation tells Axios.

The state of play: China's ByteDance had until Friday to resolve issues raised by the Committee on Foreign Investment in the U.S. (CFIUS), which is chaired by Treasury secretary Steve Mnuchin. This was the company's third deadline, with CFIUS having provided two earlier extensions.

Federal judge orders Trump administration to restore DACA

DACA recipients and their supporters rally outside the U.S. Supreme Court on June 18. Photo: Drew Angerer via Getty

A federal judge on Friday ordered the Trump administration to fully restore the Deferred Action for Childhood Arrivals program, giving undocumented immigrants who arrived in the U.S. as children a chance to petition for protection from deportation.

Why it matters: DACA was implemented under former President Obama, but President Trump has sought to undo the program since taking office. Friday’s ruling will require Department of Homeland Security officers to begin accepting applications starting Monday and guarantee that work permits are valid for two years.

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