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Corporation
MEDIA (TRADITIONAL) | Publishing
nytco.com

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Investments

44

Portfolio Exits

13

Partners & Customers

10

About The New York Times Company

The New York Times Company (NYSE:NYT) is a global media organization dedicated to enhancing society by creating, collecting, and distributing high-quality news and information. The company includes The New York Times, International New York Times, NYTimes.com, INYT.com, and related properties. The New York Times Company was founded in 1851 and is based in New York, New York.

The New York Times Company Headquarters Location

620 Eighth Avenue

New York, New York, 10018,

United States

(800) 698-4637

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The New York Times Company Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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The New York Times Company Rank

Latest The New York Times Company News

WeWork founder Adam Neumann’s new company gets a big cheque from Andreessen Horowitz

Aug 16, 2022

Adam Neumann is starting a new real estate company called Flow; and it notably has the financial support of prominent Silicon Valley venture capital firm Andreessen Horowitz - an early investor in everything from Facebook to Airbnb New York Times File image of WeWork Founder & CEO Adam Neumann (Source: Reuters) Andrew Ross Sorkin Adam Neumann is back. The founder of WeWork, whose spectacular rise and fall has been chronicled in books, documentaries and a scripted television series, has a new venture — and a surprising backer. Neumann is starting a new company called Flow, focused on the residential real estate market, the DealBook newsletter reports. Notably, it has the financial support of Andreessen Horowitz, the prominent Silicon Valley venture capital firm that was an early investor in everything from Facebook to Airbnb. Andreessen Horowitz is considered royalty among early stage investors, so its backing is a powerful sign of support, and perhaps a rebuke to Neumann’s critics, who have described his leadership of WeWork as a cautionary tale of corporate hubris. The firm’s investment in Flow is about $350 million, according to three people briefed on the deal, valuing the company at more than $1 billion before it even opens its doors. The investment is the largest individual cheque Andreessen Horowitz has ever written in a round of funding to a company. Flow is expected to launch in 2023, and the venture capital giant’s co-founder Marc Andreessen will join its board, these people said. Neumann is planning to make a sizable personal investment in the firm in the form of cash and real estate assets. “It’s often underappreciated that only one person has fundamentally redesigned the office experience and led a paradigm-changing global company in the process: Adam Neumann,” Andreessen wrote in a note posted on his firm’s website Monday, explaining his rationale for investing in the company. At its height, WeWork was valued at some $47 billion. After a botched public offering and tales of mismanagement, it imploded spectacularly. Neumann was ousted from WeWork in 2019, but he walked away with hundreds of millions of dollars. Today, WeWork has a market value of about $4 billion. Andreessen wrote that “we love seeing repeat-founders build on past successes by growing from lessons learned.” For Neumann, he added, “the successes and lessons are plenty.” Neumann, who has purchased more than 3,000 apartment units in Miami; Fort Lauderdale, Florida; Atlanta; and Nashville, Tennessee; aims to rethink the rental housing market by creating a branded product with consistent service and community features. Flow will own and operate the properties Neumann had bought and also offer its services to new developments and other third parties. Exact details of the business plan could not be learned. (Flow is unrelated to the crypto company Flowcarbon, which was also co-founded by Neumann and raised $70 million in May in a round led by Andreessen Horowitz.) It appears Neumann’s business will follow a very different model than WeWork, which involved renting office space on a long-term basis and then re-renting it to clients at higher rates for shorter terms. This created its own risks if WeWork was unable to find renters. In the case of Flow, the business is effectively a service that landlords can team up with for their properties, somewhat similar to the way an owner of a hotel might contract with a branded hotel chain to operate the property. The investment thesis for Flow appears to reflect economic and social trends that are driving more people to rent homes rather than buy them at a time when there is a housing shortage. A third of Americans rent their homes, and more than half of Americans living in urban settings are renters. Neumann made a brief foray into the residential real estate market during his time at WeWork. The company created a division called WeLive that offered short-term rentals and experiences. The business was derided as a social experiment run amok and quickly shut down, one of a few divisions — like WeGrow and Rise by We — that took WeWork away from its core focus. Neumann has said that the company expanded into too many areas too quickly. The investment in Flow, while large by venture capital standards, is still far smaller than the $9 billion that Masayoshi Son, the founder of SoftBank, invested in WeWork with the mandate for Neumann to grow the company as quickly as possible. When WeWork nearly collapsed, Son invested another $9 billion in the company to shore up its finances, leading to Neumann’s ouster. Andreessen said in his memo that he was particularly interested in Flow because he believed the rental real estate market was ripe for disruption, especially now that more people are working from home and “will experience much less, if any, of the in-office social bonding and friendships that local workers enjoy.” He also hinted that the company might try to address one of the biggest challenges renters face: “You can pay rent for decades and still own zero equity — nothing.” He added: “In a world where limited access to homeownership continues to be a driving force behind inequality and anxiety, giving renters a sense of security, community and genuine ownership has transformative power for our society.” It is unclear whether Flow will offer a rent-to-own program or some other mechanism for renters to create equity. Andreessen and other tech moguls recently opposed a plan for multifamily homes near their estates in the town of Atherton, California. Neumann declined to comment. In an interview at the DealBook Summit last year, he said of his rise and fall at WeWork that “I have had a lot of time to think, and there have been multiple lessons and multiple regrets.” c.2022 The New York Times Company New York Times

The New York Times Company Investments

44 Investments

The New York Times Company has made 44 investments. Their latest investment was in OpenWeb as part of their Series E on November 11, 2021.

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The New York Times Company Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/9/2021

Series E

OpenWeb

$150M

Yes

16

9/9/2020

Series A - II

Trint

Yes

2

8/19/2019

Unattributed VC

LiveLike

$1.48M

Yes

2

8/1/2019

Seed VC

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$99M

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10

10/25/2018

Series A

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$99M

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10

Date

11/9/2021

9/9/2020

8/19/2019

8/1/2019

10/25/2018

Round

Series E

Series A - II

Unattributed VC

Seed VC

Series A

Company

OpenWeb

Trint

LiveLike

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Subscribe to see more

Amount

$150M

$1.48M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

16

2

2

10

10

The New York Times Company Portfolio Exits

13 Portfolio Exits

The New York Times Company has 13 portfolio exits. Their latest portfolio exit was Scroll on May 04, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/4/2021

Acquired

$99M

22

2/19/2021

Acquired

$99M

7

7/30/2020

Acquired

$99M

5

3/25/2019

Acquired

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$99M

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10

10/19/2017

Acquired

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$99M

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10

Date

5/4/2021

2/19/2021

7/30/2020

3/25/2019

10/19/2017

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

22

7

5

10

10

The New York Times Company Acquisitions

9 Acquisitions

The New York Times Company acquired 9 companies. Their latest acquisition was The Athletic on January 06, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

1/6/2022

Series D

$99M

$168.22M

Acquired

28

7/23/2020

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$99M

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10

3/23/2020

Seed / Angel

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$99M

$99M

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10

10/24/2016

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$99M

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10

8/12/2016

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$99M

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10

Date

1/6/2022

7/23/2020

3/23/2020

10/24/2016

8/12/2016

Investment Stage

Series D

Seed / Angel

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$168.22M

$99M

Note

Acquired

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Sources

28

10

10

10

10

The New York Times Company Partners & Customers

10 Partners and customers

The New York Times Company has 10 strategic partners and customers. The New York Times Company recently partnered with Meta on July 7, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

7/29/2022

Partner

United States

No News is Good News? Meta Loses Interest in Partnership With US News Publishers

Social media giant Meta * has apparently decided that its partnership with US news publishers no longer suits the company 's interests , Axios reports .

1

7/14/2022

Partner

United States

1

7/5/2022

Partner

Sweden

1

3/8/2022

Partner

United States

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10

10/8/2021

Vendor

United States

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10

Date

7/29/2022

7/14/2022

7/5/2022

3/8/2022

10/8/2021

Type

Partner

Partner

Partner

Partner

Vendor

Business Partner

Country

United States

United States

Sweden

United States

United States

News Snippet

No News is Good News? Meta Loses Interest in Partnership With US News Publishers

Social media giant Meta * has apparently decided that its partnership with US news publishers no longer suits the company 's interests , Axios reports .

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Sources

1

1

1

10

10

The New York Times Company Team

38 Team Members

The New York Times Company has 38 team members, including current President, Stephen Dunbar Johnson.

Name

Work History

Title

Status

Stephen Dunbar Johnson

President

Current

Roland Caputo

Chief Financial Officer, Executive Vice President

Current

Cindy Taibi

Chief Information Officer, Senior Vice President

Current

R Anthony Benten

Senior Vice President

Current

Andrew Gutterman

Senior Vice President

Current

Name

Stephen Dunbar Johnson

Roland Caputo

Cindy Taibi

R Anthony Benten

Andrew Gutterman

Work History

Title

President

Chief Financial Officer, Executive Vice President

Chief Information Officer, Senior Vice President

Senior Vice President

Senior Vice President

Status

Current

Current

Current

Current

Current

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