Recurrent Ventures is set to announce later on Monday that it has purchased Futurism, the tech and culture-focused news site previously owned by Singularity University, a Google and Deloitte-backed technology business, reports Maxwell Tani and Lachlan Cartwright of The Daily Beast.
Tani and Cartwright report, “The purchase of Futurism marks the latest acquisition for Recurrent Ventures, which has quickly assembled a portfolio of well-liked but small, primarily digital media brands. Over the past several years, the venture equity-backed company has purchased 18 media brands including Popular Science, Saveur, Outdoor Life, Field & Stream, and The Drive, among others.
“Last month, Recurrent raised its profile by announcing it had acquired MEL, the men’s lifestyle publication previously backed by Dollar Shave Club that had become a cult favorite for its irreverent culture and lifestyle writing. A number of media organizations were interested in acquiring the site when Dollar Shave Club announced it would wind down its funding of MEL. In an interview with Axios last month, MEL’s editor-in-chief Josh Schollmeyer said he was impressed by the collaboration between the site’s leaders and the venture capital firm, noting that editors from other Recurrent-owned publications encouraged the company to buy MEL.”
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