Axel Springer increases stake in Silicon Valley-based online news and culture magazine OZY
German publisher earlier this year established US subsidiary, Axel Springer Digital Ventures Inc., to make early-stage investments in the American digital media sector
Berlin, German – October 6, 2014 — Axel Springer and OZY (www.ozy.com), the Silicon Valley based online news and culture magazine, strengthen their partnership: Axel Springer has invested 20 million USD and increased its stake in OZY. Axel Springer has become OZY’s largest investor and Mathias Döpfner, Chief Executive Officer of Axel Springer SE, will join OZY’s Board of Directors as new member.
“OZY is for us a convincing example for highly attractive digital journalism. We are happy to support and be part of OZY`s future development,” says Mathias Döpfner, Chief Executive Officer of Axel Springer SE.
Within its first year, OZY has extended its reach to more than 5.5 million unique visitors per month through first-hand reporting and a carefully curated selection of news. The daily digital news and culture magazine catches readers up on the past 24 hours and then vaults them ahead with trend-spotting pieces focused on the people, places and ideas. The site covers everything from politics to foreign and national affairs, technology, arts and culture.
The partnership between Axel Springer and OZY started in March 2014 and has since resulted in both a content collaboration as well as an advertising collaboration.
“In less than a year OZY has gone from a big idea to a break-through site thanks to elite design, marquee partnerships and quality content focus not simply on where the world is but, more importantly, on where the world is going. With Axel Springer’s investment we plan to deliver on that promise,” said Carlos Watson co-founder and CEO of OZY.
Furthermore OZY has relaunched its homepage with a whole new look and feel, representing the next generation of responsive design. Content on the site is visually impactful, with bold headlines and great photography that tell users right away why a story or video matters. Elements include a new approach to slideshows; new display for audio and video stories; and a new “Best of OZY” page and “Save for Later” function to give users more creative pathways to content.