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Amazon.com Inc. is in exclusive talks to buy podcast startup Wondery, according to people familiar with the matter, as the tech giant penetrates deeper into the growing audio industry.
The talks value Wondery at over $ 300 million, the people said. Wondery’s last round of funding, in June 2019, valued the company at $ 100 million, the Wall Street Journal reported.
The company is on track to increase revenue to over $ 40 million this year, according to a person familiar with the matter, with around 75% of that amount coming from advertising and the rest from television licensing, to subscription services like Audible and Stitcher Premium and to Wondery’s own premium subscription service, launched this summer.
Talks are continuing and negotiations could still collapse, the people said.
Closely Hold Wondery is the latest major independent podcaster to hit the market and may present the last opportunity for a major tech or media giant to buy its place in the booming field. Wondery’s investors include venture capital firms such as Waverley Capital, Lerer Hippeau Ventures, Greycroft Partners, and Advancit Capital.
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