50 Facts About Axios

The Birth of Axios

Axios has made waves in the digital news world since its inception. Let's dive into its origins and early days.

1. Axios was founded in 2016 by former Politico journalists Jim VandeHei, Mike Allen, and Roy Schwartz.
2. The name "Axios" comes from the Greek word ἄξιος (áxios), meaning "worthy."
3. Initial funding of $10 million was secured in 2016, led by Lerer Hippeau Ventures.
4. The site officially launched in 2017, marking its entry into the digital news market.

Business Model and Revenue

Understanding how Axios makes money and sustains its operations is crucial. Here's a look at their business model.

5. Revenue is generated through short-form native advertising and sponsored newsletters.
6. Axios Pro, a subscription service, bundles several paid newsletters starting at $599 a year.
7. By November 2017, Axios had raised $30 million and planned to focus on business, technology, politics, and media trends.
8. The site earned more than $10 million in revenue in its first seven months.

Content Strategy and Style

Axios is known for its unique approach to news. Let's explore their content strategy.

9. Articles are typically under 300 words, focusing on delivering essential information quickly.
10. Bullet points are used to make scanning easier for readers.
11. The Smart Brevity concept involves breaking down complex information into bite-sized chunks.
12. 80% of people quit reading after 350 words, which inspired the Smart Brevity approach.

Newsletters and Podcasts

Axios has expanded its reach through various newsletters and podcasts. Here's how.

13. Daily and weekly industry-specific newsletters are produced by Axios.
14. Mike Allen's Axios AM is a notable newsletter, succeeding his previous Politico Playbook.
15. Two daily podcasts are also produced, further engaging readers.

Acquisition by Cox Enterprises

A significant milestone for Axios was its acquisition by Cox Enterprises. Let's delve into this.

16. Cox Enterprises acquired Axios for $525 million on September 1, 2022.
17. Cox owns 70% of the company, while Axios employees and founders retain 30%.
18. The acquisition deal valued Axios at roughly five times its projected 2022 revenue.

Editorial Team and Key Figures

The people behind Axios play a crucial role in its success. Here are some key figures.

19. Nicholas Johnston, a former Bloomberg editor, was named editor-in-chief at Axios's launch.
20. Evan Ryan, the Assistant Secretary of State, was hired as an executive vice president.
21. Ben Montgomery, a Pulitzer Prize finalist, was controversially fired in March 2023.

Expansion and Local Journalism

Axios has ambitious plans for local journalism. Here's what they're doing.

22. Axios Local aims to engage communities and build subscriber lists.
23. 24 city-specific weekday newsletters are planned ahead of schedule.
24. The goal is to reach 100 cities across the United States with Axios Local.

Analytics and AI Integration

Axios leverages technology to enhance its offerings. Let's see how.

25. Heavy investment in data analysis and product development has been made.
26. Axios HQ uses AI and machine learning to format messages using the Smart Brevity concept.
27. 700 clients use Axios HQ, helping streamline corporate communications.
28. Large language models (LLMs) are becoming smarter, enhancing Axios HQ's tools.

Partnerships and Collaborations

Collaborations have helped Axios grow. Here are some notable partnerships.

29. Partnership with NBC News and MSNBC features co-founder Mike Allen on Morning Joe.
30. Strong media partnerships include a deal with NBC Universal.
31. Axios HQ is working with major airlines to communicate vital safety information.

Revenue Growth and Projections

Axios has seen impressive revenue growth. Let's break it down.

32. Projected 2022 revenue was over $100 million.
33. The company was profitable for three years but not expected to be profitable in 2022 due to investments.
34. Money from the acquisition deal will allow Axios to hire more staff.

Cultural and Educational Impact

Axios has made a significant cultural impact. Here's how.

35. The Smart Brevity style has influenced other media outlets.
36. Featured in educational initiatives, such as a course at NYU's School of Professional Studies.
37. The Smart Brevity concept teaches readers to communicate complex information concisely.

Controversies and Criticisms

Like any major player, Axios has faced its share of controversies. Let's explore.

38. Firing of Ben Montgomery in March 2023 was a notable controversy.
39. Reputation management efforts included hiring a firm to lobby for changes to Wikipedia articles.
40. Layoffs in August 2024 saw 50 employees, or 10% of the staff, let go.

Future Aspirations and Innovations

Axios continues to innovate and plan for the future. Here's what's next.

41. Investments in Axios HQ aim to make their technology even better.
42. Expanding services to more industries, such as healthcare and education.
43. Client feedback has been positive, with reports of less overwhelm and more engagement.
44. Advancements in large language models will further enhance Axios HQ's tools.

Local News Initiatives

Axios Local is a significant initiative. Here's what it's about.

45. Engaging communities and building subscriber lists is the focus.
46. Local news is made more accessible and relevant to readers.
47. Rapid expansion plans show Axios's commitment to local journalism.

Legacy and Impact

Axios has left a lasting legacy in digital journalism. Here's a look at its impact.

48. Focus on brevity and clarity has influenced other media outlets.
49. Educational value of the Smart Brevity concept is significant.
50. Shaping the future of journalism and communication, Axios remains a key player.

The Lasting Impact of Axios

Axios has changed how we consume news. Founded in 2016 by former Politico journalists, it quickly became a major player in digital media. Known for its "Smart Brevity" style, Axios delivers concise, bullet-pointed articles that get straight to the point. The platform's success led to its acquisition by Cox Enterprises for $525 million in 2022. Axios also expanded into local journalism with Axios Local, aiming to cover 100 U.S. cities. Their AI-powered Axios HQ tool helps businesses communicate more effectively. Despite some controversies and layoffs, Axios remains influential. Its focus on brevity and clarity has set a new standard in journalism. With ongoing investments and innovations, Axios is poised to continue shaping the future of news and corporate communication.