Law Street Media Secures Additional Funds, Progressing on its Sale Option
John A. Jenkins
Founder & CEO
NEW YORK, June 20, 2017 – Law Street Media, the innovative New York- and DC-based digital-media company created three years ago to serve millennials, announced today that it has secured additional funding to accelerate the platform’s audience engine. The funding gives Law Street added flexibility to expand its sales team and to build out its value proposition as it continues to explore strategic options.
The fundraise announced today closely follows last month’s announcement that the company retained strategic advisors to explore a transaction for its digital publishing business. John A. Jenkins,founder and CEO, had begun the fundraising process only to learn that great interest was coming from strategic purchasers capable of expanding Law Street’s commitment to innovation and pushing deeper into existing audiences, while also delving into new markets such as science, health, and education.
Said Jenkins: “There is so much more that we want to do with our audience aggregation engine, and we don’t intend to slow down at this moment of our greatest growth. Extending Law Street’s lead with millennial audiences will benefit all of our constituents and stakeholders: investors, advertisers, distribution partners, members of our Millennial Audience Alliance, the Law Street team, and Law Street audiences who will be better served with new niches and deeper AI and video.”
Law Street began in late 2013 as a free, mobile resource for millennials interested in engaging and authoritative coverage of law and policy. The company reaches millions of influencers in that favorable demographic through its own platform, LawStreetMedia.com; on social media; and through its Millennial Audience Alliance. The company’s focus is on video and graphic storytelling about crime, law, democracy, and social justice. Law Street uses artificial intelligence tools to programmatically create videos, which have surged in viewership since their introduction last October. Clients are served by Law Street Creative in New York; Law Street’s editorial operations are in Washington, D.C. The company derives revenue from academic subscriptions and by creating custom sponsored content for clients.
Jenkins said the team’s deep roots in professional and academic publishing gave them keen insights into how mainstream publishers, which face steepening revenue declines and changing user habits, can navigate an uncertain future. In fact, the company’s decision to explore its options followed a recent unsolicited approach by one such publisher. “That got our attention. It made clear that we’ve created a powerful asset that offers traditional publishers something that is not easily built in-house.” Law Street was the subject of a May 31 analysis by Outsell, the independent research and advisory firm. “Law Street Media has built a valuable, engaged audience,” Outsell reported. “Law Street shows that content does not have to be light click bait in order to reach millennials.…Ultimately Law Street is selling an audience, and its price will be determined by who values that audience the most.”
About Law Street Media Law Street Media (LawStreetMedia.com) is a free web-based platform covering law and public policy. It was founded as a way to provide a single essential resource to law students and young professionals in the rapidly evolving legal industry. Read the press release about Law Street’s launch here, and see the Publishers Weekly story about the company here. Law Street’s Founder and CEO is journalist and author John A. Jenkins, formerly President and Publisher of CQ Press. Read more about John and the rest of the Law Street team here. Law Street Media now serves millions of online visitors, locates its editorial office in Washington D.C., and has business operations in New York City. Early in 2016, Law Street brought aboard numerous investors from the publishing industry. Law Street’s chairman, Ken Michaels, is the CEO of Macmillan Learning.
Robert Clauser, 917-382- 8223; rclauser@LawStreetMedia.com
John A. Jenkins, 202-276- 7649; jjenkins@LawStreetMedia.com
Denny Klause, 316-393- 3815; dklause@LawStreetMedia.com
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