There are several categories of business that venture investors often avoid. Gaming was one, historically, because game-based revenues can be hit-driven and episodic. Media was another.
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The argument against funding media companies isn’t hard to grok — simply compare the aggregate value of all media-based businesses that have received venture backing against, say, the value of just one of America’s Big Five tech concerns.
This doesn’t mean that gaming companies don’t raise venture capital; they do, and web3 fervor has boosted gaming-related venture funding to a degree. Media companies also raise professional private capital, with outfits like Vox Media, BuzzFeed, Substack, The Juggernaut and others attracting venture money at one point or another in their corporate journey.
Source: techcrunch.com | Read original article