Type of site | News and opinion |
|---|---|
| Available in | English |
| Owner | Axios Media |
| Key people | Jim VandeHei (founder and CEO) Mike Allen (founder and executive editor) Roy Schwartz (founder and president) |
| URL | www |
| Commercial | Yes |
| Registration | Optional |
| Launched | 2017 |
| Current status | Active |
Axios (stylized as AXIOS) is an American news and information media company founded in 2016 by Politico co-founder Jim VandeHei, Politico's former Chief White House correspondent Mike Allen, and former Politico Chief Revenue Officer Roy Schwartz.[2] The site's name, based on the term Greek: ἄξιος (áxios), "worthy", debuted in 2017.[3] The company had raised $30 million, as of November, 2017.[4]
History
editThe company launched with a mission statement that stated, "Media is broken—and too often a scam." Journalists publish too much “crap,” without enough expertise, and no sustainable business model.[5][6]
The company initially targeted a mix of news about business, politics, technology, healthcare and media.[2] Founder VandeHei said Axios would focus on the “collision between tech and areas such as bureaucracy, health care, energy, and the transportation infrastructure."[3]
At launch, Nicholas Johnston, a former managing editor at Bloomberg LP was named editor in chief.[2] VandeHei said Axios news articles are characterized by "smart brevity", intended to be brief, specialized, high-quality and easily shareable.[7] Typical articles feature bullet points for easy scanning and are shorter than 300 words.[8]
The content is designed to live on digital platforms, such as Facebook and Snapchat, as well as its own website.[7] Reporters have made appearances on television news on NBC News and MSNBC through a deal with NBC.[2] Content is distributed via newsletters covering politics, technology, healthcare and other subjects. Among the newsletters is a daily report by Mike Allen, who formerly wrote the Playbook newsletter for Politico.[3]
In January, 2017, the company hired as an executive vice president Evan Ryan, the assistant secretary of state for Educational and Cultural Affairs and a former staffer for Vice President Joe Biden.[9]
In March 2017, the company said it had 60 employees with 40 working in editorial.[5] Axios.com has six million visitors in September 2017, according to comScore.[4] As of November, 2017, Axios said it had 200,000 subscribers to 11 newsletters, with an average open rate of 52%.[4] That same month, Axios said it would use a new $20 million investment to expand data analysis, product development, fund audience growth an increase staff to 150, up from 89.[4]
Business Model
editAxios has said it will not use banner ads, pop-ups and clickbait headlines, using native advertising instead.[6]
The company earned more than $10 million in revenue in its first seven months, primarily with native advertising that appears in between stories.[4] The company has projected half its revenue to come through subscriptions.[3]
Stories
editAn interview with Donald Trump, days before his inauguration in January 2017, brought Axios mainstream media attention when it launched.[10]
In May 2017, Axios was the first to report that Trump had decided to withdraw from the Paris climate accord.Cite error: The opening <ref> tag is malformed or has a bad name (see the help page). Axios was also the first to report that the skepticism over a detailed dinner conversation described between Steve Bannon and Roger Ailes in the Michael Wolf book Fire and Fury was probably ill founded because the dinner took place at Wolff's house.[10]
Jonathan Swann wast he first to report that President Trump was beginning his official work days at 11 a.m., following three hours of “Executive Time” — “watching TV, making phone calls, and tweeting."[10]
Axios broke the story that FBI Director Christopher Wray threatened to resign after pressure from Trump and Attorney General Jeff Sessions to fire his deputy.[10] It was also the news outlet through which Steve Bannon chose to issue a statement of "regret" for some of his comments in the Fire and Fury book.[10]
Financials
editIn the summer of 2016, Axios secured $10 million in a round of financing led by Lerer Hippeau Ventures. Backers include media-partner NBC News; Emerson Collective, the investment vehicle of Laurene Powell Jobs, the widow of Steve Jobs; Greycroft Partners; and David and Katherine Bradley, owners of Atlantic Media.[11]
In November 2017, Axios said that it had raised an additional $20 million.[4][12] WndrCo, a media-and-technology firm founded by DreamWorks CEO Jeffrey Katzenberg, is a new investor in the round.[13]
References
edit- ^ a b "Axios.com Site Info". Alexa Internet. Retrieved November 18, 2017.
- ^ a b c d Alpert, Lukas I. (2016-09-06). "Politico Co-Founder Jim VandeHei to Launch News Venture for Professionals". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-11-27.
- ^ a b c d Ellison, Sarah (2016-11-30). "Exclusive: Mike Allen and Jim VandeHei Reveal Their Plan for Media Domination". Vanity Fair. Retrieved 2017-09-29.
- ^ a b c d e f Mullin, Benjamin (2017-11-17). "Axios Raises $20 Million to Fund Newsroom Expansion". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-11-27.
- ^ a b Fox, Emily Jane. "Exclusive: Axios Has Another Trick Up Its Sleeve". The Hive. Retrieved 2017-11-27.
- ^ a b "About Axios: The Axios Manifesto". Axios. Retrieved 2017-04-15.
- ^ a b Ellison, Sarah (2016-11-30). "Exclusive: Mike Allen and Jim VandeHei Reveal Their Plan for Media Domination". Vanity Fair. Retrieved 2017-09-29.
- ^ Dillet, Romain. "Media startup Axios raises another $20 million". TechCrunch. Retrieved 2017-11-27.
- ^ Fox, Emily Jane. "Jim VandeHei and Mike Allen Bring on Washington Insiders to Help Run Axios". The Hive. Retrieved 2017-11-27.
- ^ a b c d e Steven, Perlberg (25 January 2018). "Be Smart: Mike Allen Wrote The Rules Of Washington And Now Donald Trump's Destroying Them". BuzzFeed. Retrieved 5 February 2018.
- ^ Ellison, Sarah (2016-11-30). "Exclusive: Mike Allen and Jim VandeHei Reveal Their Plan for Media Domination". Vanity Fair. Retrieved 2017-09-29.
- ^ Lawton, Joanne (2017-11-17). "Axios secures $20M funding round less than a year after launch". www.bizjournals.com. Retrieved 2017-11-28.
- ^ "Jeffrey Katzenberg's WndrCo Tenders Investment In News Startup Axios - Tubefilter". Tubefilter. 2017-11-17. Retrieved 2017-11-28.
Further reading
edit- Shephard, Alex (2017-05-02). "Axios and Donald Trump Are Made For Each Other". New Republic. Retrieved 2017-05-14.