.svg){kind=logo} | |
Screenshot .png) Axios' homepage on September 3, 2020 | |
Type of site | News |
|---|---|
| Available in | English |
| Owner | Cox Enterprises |
| Founders |
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| Key people |
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| Employees | 500 (2022)[1] |
| URL | axios |
| Advertising | Native |
| Commercial | Yes |
| Launched | 2016; 9 years ago (2016) |
| Current status | Active |
Axios (styledΛXIOS in the logo) is an Americannewswebsite based inArlington, Virginia. It was founded in 2016 and launched the following year by formerPolitico journalistsJim VandeHei,Mike Allen, and Roy Schwartz. The site's name is based on theAncient Greek:ἄξιος (áxios), meaning "worthy".[2]
Axios articles are often brief to facilitate quick reading; most are shorter than 300 words and use bullet points. In addition to news articles,Axios produces daily and weekly industry-specificnewsletters (including Allen'sAxios AM, a successor to his newsletterPolitico Playbook forPolitico).[2]
On September 1, 2022,Cox Enterprises completed its acquisition ofAxios.[3]
VandeHei said he wantedAxios to be a "mix betweenThe Economist andTwitter".[4] The company initially covered a mix of business, politics, technology, health care, and media. VandeHei saidAxios would focus on the "collision between tech and areas such as bureaucracy, healthcare, energy, and the transportation infrastructure".[2] At launch, Nicholas Johnston, a former managing editor atBloomberg L.P., was named editor-in-chief.[5]
In 2016,Axios secured $10 million in a round of financing led by Lerer Hippeau Ventures. Backers include media-partnerNBC News,Laurene Powell Jobs'Emerson Collective,Greycroft Partners, and David and Katherine Bradley, owners ofAtlantic Media.[2] The company had raised $30 million as of November 2017[update].[6][7] It planned to focus on "business, technology, politics, and media trends".[2]Axios generates revenue through short-formnative advertising and sponsored newsletters.[8] It earned more than $10 million in revenue in its first seven months.[6]
In January 2017,Axios hired as an executive vice presidentEvan Ryan, theAssistant Secretary of State for Educational and Cultural Affairs and a former staffer for Vice PresidentJoe Biden.[9]Axios had 6 million unique visitors in September 2017, according toComscore. As of November 2017[update],Axios said it had 200,000 subscribers to 11 newsletters, with an average open rate of 52 percent. The same month, it said it would use a new $20 million investment to expand data analysis, product development, fund audience growth, and increase staff to 150, up from 89.[6]
In March and April 2019,HuffPost andWired reported thatAxios had paid a firm to improve its reputation by lobbying for changes to theWikipedia articles onAxios andJonathan Swan.[10][11]
In July 2020, under thefirst presidency of Donald Trump,Axios received $4.8 million in federal loans from thePaycheck Protection Program for salary replacement during theCOVID-19 pandemic. It later returned the money, with VandeHei explaining that the loans had become "politically polarizing".[12] In September 2020,The Wall Street Journal reported thatAxios was on track to be profitable in 2020 "despite the economic turmoil stemming from the coronavirus that led to broad layoffs and pay cuts at many media outlets".[13]
In May 2021,The Wall Street Journal reported that merger discussions betweenAxios andThe Athletic had ended, withThe Athletic opting to pursue a deal withThe New York Times.[14]
On August 8, 2022,Axios announced that it had been sold toCox Enterprises for $525 million. As part of the transaction, Axios spun outAxios HQ as a separate software company.[15][16] According to the deal, Cox owns 70% of the company, whileAxios employees and its founders retain ownership of the remaining 30%.[1] The acquisition was completed the following month.[3]
Since 2021,Axios has launched a network of local newsletters across the United States.[17] The company has also focused on growing its events business.[18]
In March 2023,Axios fired Ben Montgomery, aPulitzer Prize finalist, after he described as "propaganda" a Florida Department of Education press release about an event hosted by GovernorRon DeSantis "exposing the diversity equity and inclusion scam in higher education".[19]
In August 2024,Axios laid off 50 employees, which amounted to 10% of total staff.[20]
Axios content is designed for digital platforms, such asFacebook andSnapchat, as well as its own website.[2] Its articles are typically less than 300 words long.[21] In addition to its website, Axios content is distributed via newsletters covering politics, technology, healthcare, and other subjects.[22] Among the newsletters is a daily report by co-founder Mike Allen, who formerly wrotePolitico's Playbook newsletter.[2] Some Axios newsletters are free, while others are paid. The company sells a subscription service calledAxios Pro, which bundles several paid newsletters, starting at $599 a year.[22]
Axios reporters have made appearances on television news on NBC News and MSNBC through a deal with NBC.[5] Its NBC Universal partnership has featured co-founderMike Allen on MSNBC's showMorning Joe.[23][24]
In 2021, the documentary seriesAxios onHBO won the News and DocumentaryEmmy Award for Outstanding Interview for its interview with PresidentDonald Trump conducted byJonathan Swan.[25]
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