The German media group, Axel Springer, is on a roll.
One day after Axel Springer announced its acquisition of the media publication Business Insider, it has also announced its pursuit of another publication, Thrillist, according to CNBC.
Thrillist is a digital media company geared toward men, according to the Hollywood Reporter.
"The investment is an important next step in Axel Springer's strategy to broaden its global reach, increase its English-language offerings and expand its commitment to innovative digital media content," the company said in a statement, according to the Hollywood Reporter.
Thrillist Media Group announced $54 million in funding, the investment coming from multiple investors such as Axel Springer, Oak Partners, and SBNY, according to Fortune. Of the three, Axel Springer made the biggest investment.
In an interview, Axel Springer CEO and Chairman Mathias Doepfner gave this statement.
"The main reason why we invested in [Thrillist] is the founder, Ben Lerer. He has convinced us, and we are very much focused on people when we make decisions. It's the same with Business Insider. Henry Blodget was a key factor for our investment," he said, according to CNBC.
The investment benefits both organizations, allowing Axel Springer to reach U.S. markets while also helping Thrillist to expand its scope and audience, according to Hollywood Reporter.
