Vox Media

VC-backed media companies aren't like software companies

An illustration of a toothpaste tube that is squeezing out a $1 bill
Illustration: Rebecca Zisser/Axios

Last week's triple-digit layoffs at BuzzFeed and Vice were blamed, in many digital media quarters, on unrealistic growth expectations by those companies' venture capitalists. Kind of like what we heard after Mic shut down, except louder.

Yes, but: It's more complicated than that.

Exclusive: Vox Media is acquiring The Coral Project

Axios / Lazaro Gamio

Vox Media is acquiring The Coral Project, an open-source publishing platform that is housed within the Mozilla Foundation. Deal terms have not been disclosed.

Why it matters: The deal underscores Vox Media's push to sell software as a service (SaaS) technology as a standalone revenue stream. It will also help The Coral Project grow faster by selling its technology to more newsrooms through Vox's sales team.

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