Vertical Media, the digital publishing house behind the online magazines VentureVillage and Gründerszene, has been acquired by Axel Springer. The Berlin-based corporation bought around 90 percent of Vertical Media for a sum that has not been made public. The rest of the shares will be held by co-founder Mark Hoffmann who will stay on board as CEO of the company.
The acquisition by Springer is a significant step for Vertical Media: What is today a 30 person digital publishing house that is centered around the online magazines VentureVillage and Gründerszene began in 2005 as a the private blog from Team Europe Partner Lukasz Gadowski. In 2008, Team Europe founded Vertical Media. In addition to the online magazines, Vertical Media’s product portfolio includes the networking event Spätschicht that currently takes place in Berlin, Hamburg, Cologne and Munich, the startup conference HEUREKA which just received 750 guests at the Alte Münze in Berlin, the exclusive CEO Dinner which takes place in startup hubs around the world, and also seminars and a job board.
With the Springer acquisition, Team Europe will leave the shareholder group as well as the Augsburger Media Group PDV Inter-Media Venture and other business angels who took part in the growth financing.
“No other German publishing house has understood the digital transformation as well and at the same time implemented it as radically as Axel Springer,” says Vertical Media CEO Mark Hoffmann. “This is why we at Vertical Media are all the more delighted to further develop our business with this joint mindset. I want to thank the people and investors that were a great support the last few years – especially Kolja Hebenstreit from Team Europe and Gründerszene Editor Joel Kaczmarek.”
Stephanie Caspar, the Managing Director of the WELT Group, to whose division will be attached to Vertical Media organizationally says, “In Vertical Media we are investing in a young media company that is specialized in the digital economy and associated news for and about founders.”
Image Credit: Michael Berger / Vertical Media GmbH
Information from Gründerszene translated by Elena Ruecket