Audm, the subscription app that turns long-form content into digital audio that is narrated by professional voice actors, has been acquired by The New York Times Company. The terms of the transactions were not disclosed.
Founded in 2016 by Christian Brink and Ryan Wegner, Audm had only raised a mere $120K in reported equity funding as a result of its participation in Y Combinator in 2017. The company also raised a follow-on round from Y Combinator, Hack VC, Precursor Ventures, and Switch Ventures.
The entire Audm Team will be joining the Times team according to a statement released by the Times. Audm counts publishers such as The Atlantic, ProPublica, BuzzFeed, The New Yorker, Vanity Fair, and Rolling Stone as partners. No word on whether the Times will deprecate the consumer service, which currently costs $56.99 per year.
The Times, an active acquirer of startups in the 2000s, has not made a significant acquisition since its purchase of about.com in 2005 for $410M. The company currently trades at a $4.85B market cap and was at a 15-year high before the downturn related to Covid-19.
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