Press release | G/O Media
Quartz is the first addition to G/O Media’s stable of sites since the company was founded three years ago. One of the flagship brands among digitally native premium content destinations, Quartz represents a new vertical in the G/O Media network.
G/O Media announced today that it has reached an agreement to acquire Quartz (qz.com), the digital-native business news organization ranked number one for readership among global executives aged 25-45. The acquisition brings together G/O Media’s brand portfolio which includes The AV Club, Deadspin, Gizmodo, Jalopnik, Jezebel, Kotaku, Lifehacker, The Root and The Onion with Quartz’s award-winning journalism and global audience.
With a mission to make business better, Quartz™ specializes in business news and analysis for motivated professionals. Its global newsroom helps readers discover new industries, new markets and new ways of doing business that are the most sustainable, innovative and inclusive. Quartz’s offerings include the Quartz Daily Brief, its industry-leading morning newsletter; the Quartz Obsession email and podcast; Quartz at Work, on the modern workplace; and Quartz Africa and Quartz India, which focus on innovation in each region. Quartz has been widely praised for its innovative journalism, product design and advertising, and has won many of journalism’s most prestigious accolades since its launch in 2012, most recently winning two of SABEW’s Best in Business awards more early this month.
“The acquisition of Quartz adds to our already unmatched portfolio of reader-loved and advertiser-adopted sites,” said Jim Spanfeller, CEO of G/O Media. “The digital business news space is an area ripe for investment and synergies with our other G/O Media sites. Quartz’s commitment to quality, mission-driven journalism embodies the values upheld by all of our brands, and I look forward to working with the talented team at Quartz to grow the business to new levels of success.”
Zach Seward, co-founder and current CEO of Quartz, will join G/O Media as managing director and editor-in-chief of Quartz following the formalization of the deal. Katherine Bell, editor-in-chief of Quartz since January 2020, will continue as an advisor to Quartz.
“Quartz’s progressive business journalism and our vital coverage of the global economy will now reach even more people by joining the G/O Media Network,” Seward said. “We will be able to serve readers in new ways and continue to grow the advertising and membership revenue that supports the vital work of Quartz. I am especially proud that there are no layoffs related to the acquisition, nor planned once we’re integrated. It’s a long-term growth plan.”
Quartz will be part of G/O Media’s profitable portfolio of sites that lead the industry in advertising engagement, reach, reach and performance. Numerous synergy opportunities with young audiences from other G/O Media sites, analytics and infrastructure improvements will help increase Quartz’s traffic, memberships and advertising revenue. This acquisition comes on the occasion of the third anniversary of the formation of G/O Media. Quartz was founded in 2012 under Atlantic Media, which sold Quartz in 2018 to Uzabase, a publicly traded Japanese media company. Seward and Bell took Quartz private two years later in a management buyout.
Quartz was advised by James McDonald of Grimes McGovern Associates.
About G/O Media:
G/O Media reaches more than one in five Americans online every month with over 95 million unique visitors. This collection of digitally-focused brands serves young and diverse audiences with content that reflects their shared values and passions, including top tech and science-focused sites (Gizmodo); pop culture and entertainment (The AV Club); sports news (Deadspin); automotive culture (Jalopnik); the interests of modern women (Jezebel); game (Kotaku); lifestyle (Lifehacker); food and drink (The Takeout); African American News and Culture (TheRoot); humorous and satirical news (The Onion); and e-commerce (inventory).
Quartz is a digital native news organization on a mission to improve business. Our 50 journalists around the world specialize in analyzing the global economy for an audience of motivated professionals. We help our readers discover new industries, new markets and new ways of doing business that are more sustainable, innovative and inclusive. Quartz is the leading business publication for global executives ages 25-45, and we’ve pioneered premium, mobile-first native advertising experiences since our inception in 2012.