Amazon.com Inc . is in exclusive talks to purchase podcast startup Wondery, according to people familiar with the matter, as the tech giant pushes further into the growing audio sector.
The talks value Wondery at over $300 million, the people said. Wondery’s last funding round, in June 2019, valued the company at $100 million, The Wall Street Journal reported.
The company is on track to increase revenue to more than $40 million this year, according one person familiar with the matter, with about 75% of that coming from advertising and the rest from licensing to TV, to subscription services like Audible and Stitcher Premium and to Wondery’s own premium subscription service, which launched this summer.
The deal talks are continuing and negotiations could still fall apart, the people said.
Closely held Wondery is the last large, independent podcaster on the market—and could present the final opportunity for a major tech or media giant to buy its way into the exploding field. Wondery’s investors include venture-capital firms such as Waverley Capital, Lerer Hippeau Ventures, Greycroft Partners and Advancit Capital.
