Digital Media Firms Raise More Money—and More Questions

We’re already a few months into 2017 and if the recent spate of digital media investments are any indication, investors still have an appetite for them. But the fundraisings may only be delaying a consolidation that remains inevitable in the crowded media field.

The Information has learned millennial news site Mic is quietly putting together a series C round that will be led by earlier investor Lightspeed Venture Partners and may include at least one strategic media company, according to two people familiar with the matter.

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To be sure, the new rounds of capital will postpone these matters for these digital media companies for the time being. The question is what the landscape will look like when the next tranche of money runs out.

Louis J. Venezia and Tom Dotan commented on this article.
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Even the most optimistic investors and founders admit that the best-case scenario for many digital media startups is to get acquired.