You may have heard there’s a tech funding crunch, especially for companies that have yet to generate significant revenue.
Ev Williams’s Medium raised $57 million in September -- now it’s raised another $50 million
What funding crunch?
Re/code
Peter Kafka covered media and technology, and their intersection, at Vox. Many of his stories can be found in his Kafka on Media newsletter, and he also hosts the Recode Media podcast.
Not for Medium: The publishing platform says it raised another $50 million — just a few months after it raised $57 million. Update: Investors valued the company at $600 million in the current round, said a person familiar with the financing.
This round was led by Spark Capital and includes previous investors Andreessen Horowitz and Google Ventures.
CEO Ev Williams, whose stake in Twitter has made him a billionaire, is also putting money into his own company.
If you follow this stuff closely, you will know that Spark Capital was an early investor in Twitter; this time the Spark investment was led by Kevin Thau, who worked with Williams at Twitter.
When Medium raised in September, investors said it was worth $400 million. Medium has now raised more than $130 million, but is just starting to embark on a push to make money.
Medium also added Andreessen Horowitz’s Ben Horowitz and internet pioneer Judy Estrin to its board. More on all of that here.
And here’s an interview I did with Williams last fall, where he laid out his general plan for Medium — and explained why he is building yet another publishing company:
This article originally appeared on Recode.net.
