Providing an exit to investors is taking precedence over fixing a broken business model for many new media companies.
The West is awash with news of several media companies finding redemption in a SPAC outcome. SPAC is short for a special purpose acquisition company, also known as a blank cheque company or a company that has no real, existing business. Where the SPAC raises money through an initial public offering with the purpose of acquiring an existing company. The public markets in the US are in the middle of a SPAC boom of sorts.
According to Dealogic, a data intelligence company, SPACs raised $83 billion in the first three months of 2021, compared to $82.6 billion raised in all …
Harveen is a co-founder at The Morning Context, and leads our Internet coverage, overseeing a team of reporters writing on startups and tech. She has previously worked as a media, consumer and tech reporter at The Ken and Mint. At The Morning Context, she writes on startups, venture capital, consumer and media businesses—from e-commerce to healthtech to streaming.
Editor, Internet
harveen@mailtmc.com
Mumbai