Medium Raises Another $31M
Can Medium Now Afford to Pay Us More or Did It All Go to Acquisitions?
Medium Corp. has raised another $30,967,569 in funding from investors as of Nov. 5, according to this filing with the SEC.
That follows their last round of funding of $50M back in 2016 at a valuation of $550M. Their total funding since 2014 is now $163M.
What does this mean for us writers?
It’s probably no coincidence that the funding is taking place at exactly the same time as the acquisitions of not one company but two: Projector and Knowable. In particular, I’m guessing Projector cost Medium serious coin in cash as well as stock. (Analysis of Medium’s 3 recent acquisitions here.)
So my guess is that a significant portion of the new $31M went straight to the investors in Projector. They raised $23.5M in venture capital themselves, so it wouldn’t be surprising to see that amount paid out in cash to make their investors whole, with upside coming from a big chunk of Medium stock.
Knowable had raised $3.8M, so it’s possible most of the rest of the new cash went to Knowable’s investors. But my guess is the Knowable folks got paid mostly in stock. (See my analysis of the Knowable acquisition.)
