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Spotify-gimlet Deal: Podcasting Is Not A Small Business | Fortune

by fortune.com posted 2months ago 22 views
Contrary to popular belief, there's a lot of money to be made in podcasting. : Spotify is in advanced talks to acquire Gimlet Media, the Brooklyn-based narrative podcast company, for more than $200 million in cash, according to Recode. Gimlet has raised approximately $28.5 million in venture funding from investors including WPP, Stripes Group, LioneTree Partners, Graham Holdings, Betawarks, Cross Culture Ventures, and Lowercase Capital. Two years ago, the startup was reportedly valued at roughly $70 million. Podcasting may be a relatively small industry in the U.S, but if I had to guess, Spotify has bigger ambitions than that.

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