Max Willens of Digiday writes about Industry Dive, which has remained profitable in 2020 and plans to continue to expand.
Willens writes, “In a year when most media companies’ balance sheets were squeezed, the B2B digital media company launched two new verticals, acquired a content studio and grew its revenues by 30% year over year, ahead of what the company targeted for 2020, company CEO Sean Griffey said, thanks to a combination of higher traffic and advertisers moving their budgets away from events.
“Industry Dive, which Falfurrias Capital Partners acquired a majority stake in last year for an undisclosed price, is solidly profitable, with 30% profit margins on $60 million in revenue, $40 million of which came its core ad business. And while the 210-person company did not hire as many people as it planned to this year, it did not have pay cuts, furloughs or layoffs either, and it has plans to go on a hiring spree next year: Industry Dive now has 80 journalists, and plans to hire another 20 next year, Griffey said.”
Read more here.
