{"id":32676,"date":"2023-10-20T14:28:43","date_gmt":"2023-10-20T14:28:43","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/write-stuff-publishing-platform-medium-raises-us57-million-startupsmart\/"},"modified":"2023-10-20T14:28:43","modified_gmt":"2023-10-20T14:28:43","slug":"write-stuff-publishing-platform-medium-raises-us57-million-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/write-stuff-publishing-platform-medium-raises-us57-million-startupsmart\/","title":{"rendered":"Write stuff: Publishing platform Medium raises $US57 million – StartupSmart"},"content":{"rendered":"
Publishing startup Medium<\/a> has raised $US57 million, which will be used to try to make its platform \u201cthe dominant pipeline for connecting quality content and conversation\u201d. <\/p>\n \u00a0<\/p>\n The $US57 million round was led by Andreessen Horowitz and included participation from existing investors Google Ventures, Greylock Partners, Obvious Ventures, The Chernin Group, and a number of angel investors.<\/p>\n \u00a0<\/p>\n Medium, founded by former Twitter chairman and CEO Evan Williams, has now raised a total of $US82 million.<\/p>\n \u00a0<\/p>\n The startup is still looking for a viable business model. Last year it launched Gone, a travel publication with Marriott International, and design-focused publication Re:form with BMW. The two sites are a combination of native advertising and paid sponsorship<\/a>.<\/p>\n \u00a0<\/p>\n In a post<\/a> discussing the funding round, Medium\u2019s head of operations Andy Doyle says the funding allows the startup to continue working towards realizing its vision.<\/p>\n \u00a0<\/p>\n \u201cMany digital media companies are trapped in a negative cycle. Distribution happens primarily through networks that optimize click-through over quality, forcing creators to learn content and marketing parlour tricks instead of allowing them to focus on creating fresh perspectives,\u201d Doyle says.<\/p>\n \u00a0<\/p>\n \u201cIt has forced advertisers to look elsewhere for deeper engagement. And it has frustrated individual writers and organised media brands alike.<\/p>\n \u00a0<\/p>\n \u201cAt Medium we operate in a fundamentally different way. We don\u2019t focus on pageviews, unique visitors, or click metrics. We don\u2019t litter the platform with ads that are low quality, high clutter. We don\u2019t tolerate bad behaviour in the community. And we don\u2019t violate people\u2019s privacy.\u201d<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n https:\/\/twitter.com\/alantsen<\/a>“>@alantsen https:\/\/twitter.com\/cdixon<\/a>“>@cdixon I don’t feel Medium provides the network for 99.9% of people. Nor do I see a path where it will. It is a nice tool though<\/p>\n \u2014 Nic Hodges (@nichodges) https:\/\/twitter.com\/nichodges\/status\/648654300688683008<\/a>“>September 29, 2015<\/p>\n<\/blockquote>\n \u00a0<\/p>\n \u00a0<\/p>\n Since launching in October 2013 Medium has grown to have more than 20,000 users each week.<\/p>\n \u00a0<\/p>\n \u201cWhether you post, highlight, recommend, or respond \u2013 Medium helps you move other people, see issues through a different lens, change minds, and inspire action,\u201d Doyle says.<\/p>\n \u00a0<\/p>\n \u201cWe are confident this is the best model for both creators and audience in the long run.\u201d<\/p>\n \u00a0<\/p>\n\n