Axel Springer Buys a Stake in Thrillist

The German publisher Axel Springer has bought a stake in the U.S. media company Thrillist, Fortune has reported. The move comes just days after Axel Springer bought Business Insider for $343 million.

Thrillist, a lifestyles website geared toward Millennial men, additionally raised money from Oak Investment Partners and SBNY for a total of $54 million in new funding. As part of a corporate reorganization, Thrillist is also separating its media business and its e-commerce business JackThreads into two separate companies.

Thrillist attracts 15 million unique visitors per month to Thrillist.com and 80 million visitors per month across its digital, social and mobile platforms, according to the company.

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