Gimlet Media Acquired by Spotify
Congratulations to Matthew Lieber, the Gimlet Media team & Spotify on the recent acquisition. Hard to believe that it was just a few years ago when the CCV co-founders met Alex and Matt at an event in NY where Troy Carter was being recognized. That chance meeting led to a follow up call and our, Cross Culture Ventures, investment.
Our thesis was that podcasts would disrupt talk radio due to its on demand nature, and brands would find that they can target consumers with greater specificity and that tracking their ad dollars in the space is far more transparent. Both are proving to be correct. We also believed that Alex’s creativity and prior experience in radio coupled with Matt’s operational expertise and discipline made them the ideal team to build this company.
Fast forward to today–Gimlet has established itself as the clear leader in the podcasting space. Their focus on premium and uniquely curated content has proven effective and is unmatched. They are a pleasure to work with and we are thrilled to have been investors. As for the podcasting space, we believe it will continue to explode and our thesis will continue to prove out.