"Only one of them, Justin B. Smith, 56, is the CEO of Semafor, the new American media outlet that has arrived with a mission to save the industry and has just been valued at $330 million. Right now, Justin and Ben Smith, the other co-founder, are feeling optimistic and euphoric, according to interviews. They see themselves in a position to compete with the country's major newspapers."
"The media outlet plans to strengthen its presence in key markets such as the Gulf where it already has several editors launch a newsletter focused on CEOs in China, and expand its live events business in Africa and Asia. It currently has between 55 and 60 journalists on staff and plans to hire around 20 more. Subscriptions to its newsletters now exceed one million and are heavily concentrated among senior executives."
Semafor is a new American media outlet co-founded by Justin B. Smith (CEO, 56) and Ben Smith, positioned to compete with major newspapers. The company was valued at $330 million and announced a $30 million funding round to support international expansion and additional journalism hires after closing its first year with nearly $2 million in profit. Semafor plans to strengthen presence in markets such as the Gulf, launch a newsletter focused on CEOs in China, and expand live events in Africa and Asia. The outlet has 55–60 journalists, plans to hire about 20 more, and its newsletters exceed one million subscribers, concentrated among senior executives. The Signal is an invitation-only newsletter. Semafor currently has no paywall but is developing a subscription model. Justin B. Smith spent his childhood and adolescence in Paris, has an American father involved with international educational institutions and an English artist mother, attended Phillips Academy, Andover, and studied at Georgetown University's School of Foreign Service focusing on international relations, diplomacy, and global power.
Read at english.elpais.com
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