‘Like Icarus – now everyone is burnt’: how Vice and BuzzFeed fell to earth
by Mark Sweney from Technology | The Guardian on (#6BFKS)
Era of lofty valuations for upstart youth media appears to be over, with Vice heading for bankruptcy' and BuzzFeed News shutting down
Just over a decade ago Rupert Murdoch endorsed what appeared to be a glittering future for Vice, firing off a tweet after an impromptu visit to the media upstart's Brooklyn offices and a drink in a nearby bar with the outspoken co-founder Shane Smith.
Who's heard of VICE media?" the Australian media mogul posted from his car on the way home from the 2012 visit, which resulted in a $70m (55m) investment. Wild, interesting effort to interest millennials who don't read or watch established media. Global success."
Continue reading...