top of page
Writer's pictureRISHI KORDE

Exclusive: The Messenger is seeking $20 million to tackle its financial difficulties.

Updated: Jan 5





The digital news startup, The Messenger, is reportedly in the process of raising approximately $20 million as it grapples with layoffs and financial challenges, according to sources cited by Axios. This funding round is seen as crucial for the media company, which launched last year after securing $50 million in initial funding. Initially, company executives had expressed the intention to fuel growth through profits rather than additional capital raises. However, a slowdown in the advertising market has hindered the startup's progress toward its ambitious revenue goals. Despite facing setbacks, The Messenger's founder, Jimmy Finkelstein, is said to be actively pitching a second round of investment, targeting around $20 million. The company's current investors include The Stagwell Group, led by Mark Penn, Victor Ganzi (former CEO of Hearst), James Tisch (Loews CEO), Josh Harris (Apollo co-founder), and Thomas Peterffy (Interactive Brokers founder and chair). Finkelstein has reportedly emphasized the firm's rapid digital audience growth since its launch and has highlighted the upcoming debut of "The Messenger TV," a new video initiative planned for the current year.


1 view0 comments

Comments


bottom of page