Ben Smith said he was close to hiring a reporter to work with him on a media column. Among its first hires: Liz Hoffman from The Wall Street Journal, who will lead business and finance coverage Reed Albergotti of The Washington Post, who will head tech reporting and Kadia Goba, a political reporter from BuzzFeed News. Semafor will start with a website and email newsletters. “I think the business model conditions for global news media are better in 2022 than they’ve ever been since before the internet arrived,” Justin Smith said, “and it has to do with the ubiquitous broad adoption of subscriptions and the loosening grip of tech platforms on global ad markets.” Digital media companies like BuzzFeed and Vice have struggled to live up to their lofty valuations, and economic pressure has forced them to cut back on international expansion. The company is entering an industry with few success stories. (Axios earlier reported some details of Semafor’s funding.) He declined to provide a valuation for Semafor.
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