Behind the scenes, Postmates has also had trouble securing the additional funds it has chased for the better part of this year. Sources familiar with the matter told Quartz that Postmates has been in talks to raise a Series E round of at least $100 million, a figure that has also been reported by Bloomberg and TechCrunch. The funding is being led by Founders Fund, the venture-capital firm co-founded by Peter Thiel and an existing Postmates investor. It would value the company at around $450 million, the same as its series D valuation, sources said.
Many digital media businesses chase readers on the largest scale possible, all the better to attract advertisers that want to spread their messages widely. But big reach comes at a cost — in quality, in resources — that isn’t always justified by the ad rates online.
Unfortunately the niche game isn’t much easier, just as rife with competition and demands on limited resources. So it’s good news for smaller publishers that Quartz, the Atlantic Media brand primarily dedicated to covering the global economy, seems to be on the cusp of making it work, at least according to a person familiar with the business.