News organization Semafor has received a $30 million investment, valuing the operation at $300 million, reports Isabella Simonetti of The Wall Street Journal.
Simonetti writes, “The $30 million in new funding will help expand Semafor’s World Economy annual CEO gathering in Washington, D.C., and explore new markets for events. Semafor plans to hire more journalists and expand the publication of its D.C., Gulf and business newsletters. It also aims to launch a CEO-focused China newsletter.
“More than 60% of the fresh investment comes from existing backers including Kravis and Rubenstein, the company said. PSP, the Belgian entrepreneur Thomas Leysen and the media company Antenna Group are among its new investors.
“Semafor launched with $25 million in financing from wealthy investors, including media industry executives and the now-disgraced cryptocurrency tycoon Sam Bankman-Fried. It raised $19 million in 2023 partly to repurchase roughly $10 million in financing from him.
“Justin Smith said the company works to deliver journalism that is ‘completely global in outlook, really focused on high-quality independent, I would say even, cerebral journalism’ that tries to explain the world to the ‘leadership class.'”
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