The Memo secures £280,000 investment to ‘make the future more human’
The London-based lifestyle publication will use the backing from a former Daily Mail editor and Prince’s Trust enterprise fellow to launch in New York
Online business and lifestyle publication The Memo has secured a £280,000 investment led by business leaders in publishing and finance.
Among the investors were Andrew Dixon; enterprise fellow at The Prince’s Trust and founder of Arc InterCapital, and Paul Field; former Daily Mail associate editor and publisher of its Mail Plus digital editions.
Launched in April 2015 by ex-Tech City News editor and broadcaster Alex Wood, The Memo publishes daily news, commentary, high-profile interviews and videos online, focusing on the people and ideas that are making real changes around the world.
The site aims to ‘make the future more human’ through its carefully curated content.
The London-based publication currently attracts over half a million readers per month, with a target audience of early adopters, innovators and business leaders. Since launch, the site has won four awards including Best Specialist Site for Journalism at the Online Media Awards.
The investment will be used to fund expansion into New York, where The Memo will launch with the same sustainable business model that has proven successful in the UK. The funding will also see the recruitment of more editorial and operational staff.
Founder and editor-in-chief, Wood, commented: “We’re proud to be expanding to New York first, to put our publication at the heart of where digital disruption and innovation meets the real world.”
Field, one of The Memo’s investors, added: “Wood is an experienced entrepreneur and has a proven track record in leading online publications to success.
“This experience, coupled with The Memo’s excellent team and a revenue model with a clear path to self-sufficiency, gives me confidence that the business will continue to grow and cut through the noise online with a distinctive and compelling voice.”