Product Management | Case Study
Axios is an American news company based in Arlington, VA. Founded in 2016 by Politico journalists, Jim VandeHei, Mike Allen and Roy Schwartz, the company produces newsletters, podcasts, and an HBO series with a guest list featuring Elon Musk, Tim Cook and Kamala Harris.
The company prides itself on brevity, and with articles less than 300 words, Axios is the Twitter of news outlets.
While other media companies issued pay cuts and layoffs during the Covid-era to prepare for an estimated 40% revenue slide, Axios returned their $4.8M PPP loan and is on track to make a profit in 2020, bringing in $58M in revenues — up 30% from the previous year.
To date, the company raised $57M from VCs and corporate partners including Lerer Hippeau, NBC News and Greycroft and has a pre-money valuation of $200M. As of 2020, the 200 strong team distributes over 4M newsletters daily across 1.4M subscribers.
Majority of revenues are generated via native advertising and sponsored newsletters; noted advertisers include Comcast, Koch and Wells Fargo. Remaining funds flow in from HBO, events, and licensing for its upcoming product, HQ — a solution that brings their trademark brevity to corporate communications. HQ is scheduled to launch in 2021 and is estimated to bring in seven figures in revenues.
Read a deep dive on the Axios app with new feature recommendations here.