Fundings and Exits

Bustle is raising roughly $30 million to go on a shopping spree



Bustle, the everything blog for millennial women, is hustling to close on around $30 million in new funding as it goes on the prowl for new acquisitions.

It’s a significant cash infusion for a company that has created a mini, millennial-focused media empire that reaches nearly 80 million unique monthly visitors across its sites.

The company, which acquired Elite Daily last year, was also reportedly in the mix for Rolling Stone and Mashable when those titles were getting shopped around.

Bustle has come a long way since founder Bryan Goldberg (a co-founder of Bleacher Report) announced its launch in 2013. After an early stumble out of the gate following a less-than-glowing New Yorker profile, the company found its stride and kept its audience — all while expanding its reach with the launch of new sites like the millennial-mom focused Romper.

Its Elite Daily acquisition seems to point the way forward for the company. Since Bustle first came on the scene, a number of new sites have launched to cover different industries from a women’s perspective.

Whether it’s The Relish’s take on sports, or Blue Fever’s new entertainment platform, new media is embracing a certain demographic of women consumers.

With the $30 million in fresh cash, Bustle will be well-positioned to roll up some of these new sites. The company has already raised nearly $50 million from investors, including GGV, General Catalyst, Saban Capital Group and Social Capital, according to Crunchbase.



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