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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