In a rather surprising move, Vox Media, which is the home and publisher to The Verge, Polygon, and SB Nation, has made a hefty offer and has purchased the Curbed Network, which also includes the Curbed, Racked, and Eater blogs. As of press time, the purchase price has not been made available, but a source close to Vox told the Times that the sites sold for a mix of cash and has a stock worth between “$20 mil to $30 mil.” Some additional info regarding the purchase:
Curbed founder Lockhart Steele told Fortune that he would stay in New York and oversee Curbed’s sites as managing editor. Vox just recently raised $34 million in funding. CEO Jim Bankoff told the New York Times the company wanted Curbed to help it reach “otherwise hard to reach young, affluent, social consumers.” So clearly the site as it exists now is doing something right.
Source: Grub Street