Amazon in Talks to Buy Podcast Maker Wondery
December 02 2020 - 1:19PM
Dow Jones News
By Benjamin Mullin and Anne Steele
Amazon.com Inc. is in exclusive talks to purchase podcast
startup Wondery, according to people familiar with the matter, as
the tech giant pushes further into the growing audio sector.
The talks value Wondery over $300 million, the people said.
Wondery's last funding round, in June 2019, valued the company at
$100 million, The Wall Street Journal reported. The company is on
track to increase revenue to more than $40 million this year,
according one person familiar with the matter, with about 75% of
that coming from advertising and the rest from licensing to TV,
subscription services like Audible and Stitcher Premium, and
Wondery's own premium subscription service, which launched this
summer.
The deal talks are ongoing and negotiations could still fall
apart, the people said.
(More to Come)
(END) Dow Jones Newswires
December 02, 2020 13:04 ET (18:04 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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