VCs don’t love podcasting, but Gimlet Media has raised another $15 million anyway
You are used to reading about media companies raising money, but you haven’t heard much about podcast companies raising money. So let’s change that: Gimlet Media, the podcast studio/network behind shows like StartUp and Reply All, has raised $15 million. Co-founder Matt Lieber won’t comment on valuation, but does say that the company was initially looking to raise $10 million but expanded the round to accommodate investor interest. A recent study commissioned by podcast companies, including Gimlet, pegs the podcast industry’s 2016 revenue at $119 million. That’s peanuts compared to the billions going into search and video. But the same study thinks that number will nearly double, to $220 million, this year. Check out the piece on Recode.