Source: Protocol
Summary
Verizon Media Group is rebranding as Verizon Media, a subsidiary of Apollo Global Management, after being acquired for $5 billion. The company has grown rapidly by acquiring and revamping last-generation tech brands like AOL, Eventbrite, Evernote, Meetup, and Vimeo. The rebranding aims to position the company as a major player in the digital media space. Verizon Media’s CEO, Guru Gowrappan, said the company is focused on “building a better internet.” The rebranding includes a new logo and website.
Our Reading
The launch follows a familiar script.
Verizon Media is rebranding, because that’s what you do when you’re a subsidiary of a private equity firm. They’ve got a new logo and a website that says they’re “building a better internet.” Meanwhile, they’re still trying to make a dent with last-generation tech brands like AOL and Yahoo. The company’s growth strategy seems to be “buy old things and rebrand them.” Because that’s worked so well for everyone else.
Author: Evan Null
