The Guardian Buys Rafat Ali’s PaidContent For $30 Million
Rafat Ali’s 6 year old web publishing company Content Next has been bought for maybe up to $30 million by Guardian News & Media, the news media division of UK-headquartered Guardian Media Group. Content Next began when Rafat started to publish their cornerstone publication PaidContent.org. A press release by Rafat on his site says:
This starts the 2.0 phase of our company ContentNext Media: we will remain a stand-alone business under GNM. This also marks a major expansion of Guardian’s U.S. presence….it already runs the Guardian America website, focused on U.S. audiences. You can see all the formal details in the release below.
We were planning another round of funding and were not out shopping the company but when Guardian approached us, all the pegs fit into the right holes: a company that will help us scale, add to our existing portfolio of products, and most importantly, help keep ”Our Essence of Being“ intact. For our team, the biggest consideration was working with a media company known for its journalistic integrity, its long-term view of businesses—and its international outlook in editorial coverage as well as business.
PSFK has always been a great admirer of Rafat Ali’s work and we’ve always looked at the development of his publications for inspiration (read that as pinching ideas). We’re not jealous one single teeny-weeny bit.
[via Silicon Alley]