Quartz co-CEO Jay Lauf

Buzzy business news startup Quartz made headlines in July 2018 when it sold for as much as $110 million to a Japanese media company at a time when other digital media companies were selling for a fraction of their announced value.
A year later, several key leaders have left Quartz and insiders say a new membership program is less than halfway toward its 2019 goal and that the company is on track to lose money again this year.
On the ad revenue side, its bread and butter, native advertising, isn’t that special anymore as it’s become table stakes for publishers.
The company’s co-CEO said Quartz was doing fine and that membership was showing “steady progress.”
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Quartz, a quirky but admired business news startup, made headlines in July 2018 when it sold for as much as $110 million to a Japanese media company.

It was a win for digital news at a time when other online media companies were selling for a fraction of their announced value. Quartz’s new owner, Uzabase, was little known in the US but its founder Yusuke Umeda expressed no shortage of ambition, saying he wanted Quartz to help NewsPicks, his news aggregation app …read more


Source:: Businessinsider – Tech

      

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