{{short description|American internet and media company}} {{Use mdy dates|date=November 2017}} {{Infobox website | name = Mic | logo = Mic 2022.svg | logo_size = 120px | parent = | type = News | foundation = {{start date and age|2011}} (as PolicyMic)<ref>{{cite web|url=http://whois.domaintools.com/policymic.com |title=PolicyMic.com WHOIS, DNS, & Domain Info |publisher=DomainTools |access-date=July 5, 2016}}</ref> | launch_date = | founder = Chris Altchek<br />Jake Horowitz | location_city = New York City, New York | location_country = U.S. | area_served = | key_people = | owner = Bustle Digital Group | num_employees = | url = {{url|mic.com}} | website_type = | language = English | advertising = | registration = Optional | current_status = Active | screenshot = }}
'''Mic''' is an American internet and media company based in New York City that caters to millennials.<ref>{{cite magazine|url=http://fortune.com/2015/06/02/mic-millennial-powerhouse/|title=Mic's plans to become a millennial media powerhouse|magazine=Fortune}}</ref><ref>{{cite web|url=http://www.fox5ny.com/news/151550212-story|title=Mic: Media company for millennials|publisher=Fox5NY.com|access-date=August 2, 2016|archive-url=https://web.archive.org/web/20170823072511/http://www.fox5ny.com/news/151550212-story|archive-date=August 23, 2017}}</ref>
Originally known as '''PolicyMic''', it rose to prominence after its on-the-ground coverage of the Tunisian Revolution in 2011.<ref name="Forbes">{{cite web|url=https://www.forbes.com/sites/abrambrown/2014/01/06/the-media-startup-getting-20-year-olds-to-talk-about-more-than-cat-pictures/|title=The Media Startup Getting 20-Year-Olds To Talk About More Than Cat Pictures|last=Brown|first=Abram|date=May 28, 2014|work=Forbes|access-date=June 16, 2014}}</ref><ref name="Tunisia">{{Cite web|url=http://www.policymic.com/articles/224/snapshot-of-a-new-tunisia-an-uneasy-but-hopeful-calm|archive-url=https://archive.today/20140508175405/http://www.policymic.com/articles/224/snapshot-of-a-new-tunisia-an-uneasy-but-hopeful-calm|archive-date=May 8, 2014|title=Snapshot of a New Tunisia: An Uneasy, But Hopeful Calm|last=Dietz|first=David|date=January 19, 2011|publisher=PolicyMic|access-date=January 19, 2015}}</ref> In April 2014, the company reached 19 million unique monthly visitors.<ref name="CNN">{{cite web|url=https://money.cnn.com/2014/04/28/technology/policymic-investment/|archive-url=https://web.archive.org/web/20140501031901/http://money.cnn.com/2014/04/28/technology/policymic-investment|url-status=dead|archive-date=May 1, 2014|title=Another $10 million in funding for PolicyMic, a startup with shades of BuzzFeed and Upworthy|last=Stelter|first=Brian|date=April 28, 2014|publisher=CNNMoney|access-date=June 16, 2014}}</ref>
On November 29, 2018, Mic laid off the majority of their staff—60 to 70 people<ref name="Digiday-2018">{{cite news |url=https://digiday.com/media/mic-transformations-pivoting-nowhere/ |title=Pivoting to nowhere: How Mic ran out of radical makeovers |work=Digiday |date=2018-11-30 |access-date=2018-11-30 }}</ref>—after Facebook canceled a deal to publish a news video series.<ref name="Kafka 2018">{{cite web | last=Kafka | first=Peter | title=Mic has laid off the majority of its staff | website=Recode | date=2018-11-29 | url=https://www.recode.net/2018/11/29/18117787/mic-layoffs-staff-bustle-facebook | access-date=2018-11-30}}</ref>
==History== Mic was co-founded in 2011 as PolicyMic by Chris Altchek and Jake Horowitz, two high school friends from New York.<ref name="Forbes" /> In January 2014, the two were named to the annual list of Forbes 30 Under 30.<ref name="Strachan" />
In 2014, the company announced it would re-brand their organization to target millennials, renaming themselves as "Mic".<ref>{{Cite web|url=http://observer.com/2014/06/mic-drop-policymic-changes-its-name-revamps-layout/|title='Mic' Drop: PolicyMic Changes Its Name, Revamps Layout|website=The New York Observer |date=June 19, 2014|access-date=September 9, 2015}}</ref> The company purchased the domain name for a reported $500,000 and explained the name change as the company reflecting its "expanded focus and bold vision." Later in 2014, Chris Miles, the managing editor of news, was fired over allegations of plagiarism.<ref name="Strachan">{{cite news |last=Strachan |first=Maxwell |url=https://www.huffpost.com/entry/mic-layoffs-millennial-digital-news-site-warning_n_5c8c144fe4b03e83bdc0e0bc |title=The Fall Of Mic Was A Warning |work=HuffPost |date=2019-07-23 |url-status=live |archive-url=https://web.archive.org/web/20190724205352/https://www.huffpost.com/entry/mic-layoffs-millennial-digital-news-site-warning_n_5c8c144fe4b03e83bdc0e0bc |archive-date=2019-07-24 |access-date=2019-07-25 }}</ref>
Mic's news director, Jared Keller, was fired in February 2015 after the blog website Gawker found various levels of plagiarism in 20 different passages of his work.<ref>{{cite news|url=https://www.politico.com/media/story/2015/02/mic-fires-news-director-after-plagiarism-investigation-003454/|title=Mic fires news director after plagiarism investigation|last1=Barr|first1=Jeremy|date=12 February 2015|work=Politico|access-date=6 June 2018|last2=Sterne|first2=Peter|language=en}}</ref> In March 2016, Mic acquired curated video app Hyper as well its developer, AntiHero.<ref>{{cite news|url=http://www.adweek.com/fishbowlny/mic-acquires-video-app-hyper/369358|title=Mic Acquires Video App Hyper|date=March 8, 2016|work=AdWeek|access-date=March 9, 2016}}</ref>
Past advisors to the company include David Shipley, executive editor of ''Bloomberg View'' and former op-ed page editor at ''The New York Times'', and Jacob Lewis, the former managing editor of ''The New Yorker''.<ref name="Digiday">{{cite magazine|url=http://digiday.com/publishers/the-millennial-secret-to-building-millennial-media-brands/|title=Can PolicyMic become the voice of the millennials?|last=Bilton|first=Ricardo|date=February 7, 2014|magazine=Digiday|access-date=June 16, 2014}}</ref> Allison Goldberg, senior vice president of Time Warner Investments, joined Mic's board of directors in April 2017.<ref name=":0" />
Mic senior reporter Jack Smith IV was fired in September 2018 after several sexual misconduct accusations against him were published on Jezebel.<ref>{{cite web | last=Levine | first=Jon | title=Mic Terminates Reporter After 'Multiple, Disturbing Allegations' | website=TheWrap | date=2018-09-25 | url=https://www.thewrap.com/mic-fires-reporter-jack-smith-multiple-disturbing-allegations/ | access-date=2018-10-08}}</ref>
On November 29, 2018, a majority of the staff were laid off after Facebook canceled a video deal with the company.<ref name="Kafka 2018"/> Altchek notified staff during an all-hands meeting, saying that "Facebook caught us by surprise at a really bad time" and that "The majority of the teams including people, finance, HR, productions, video, editorial, marketing, revenue and executive team will be departing, effective today."<ref name="Strachan 2018">{{cite web | last=Strachan | first=Maxwell | title=Here's The Excruciating Audio Of Mic's Co-founder Telling Everyone It's Over | website=HuffPost | date=2018-11-30 | url=https://www.huffingtonpost.com/entry/mic-audio-co-founder_us_5c00a5d9e4b0d04f48b2986f | access-date=2018-11-30}}</ref> The same day, Mic was sold to Bustle Media Group for less than $5 million, which was a fraction of the "hundreds of millions" that Altchek said the site was worth in 2017.<ref name="Digiday-2018"/>
==Content== Since 2018, Mic has produced video content covering social justice and progressive issues, described as "serious issues important to young people",<ref name="HR">{{cite news|url=http://www.hollywoodreporter.com/news/next-buzzfeed-5-hot-new-696376|title=The Next Buzzfeed? 5 Hot New Websites|last=Lewis|first=Hilary|date=April 17, 2014|work=The Hollywood Reporter|access-date=June 16, 2014}}</ref> distributed through the Mic website and through social media. This content is supplemented with advertorial videos produced for clients.<ref name="shields"/>
Writing for ''Forbes'' in 2014, Abe Brown described PolicyMic's style as hyperbolic, with a mix of serious analysis of issues and attention-seeking listicles. Brown grouped the site with Upworthy, BuzzFeed, and Business Insider as opposed to more conventional news media such as ''The New York Times'' and ''The Washington Post.''<ref name="Forbes"/> In an effort to improve Mic's editorial quality, the company recruited Cory Haik as publisher, and Kerry Lauerman as executive editor, both from ''The Post''.<ref>{{Cite web|url=https://www.niemanlab.org/reading/kerry-lauerman-leaves-washington-post-for-mic/|title = Kerry Lauerman leaves the Washington Post for Mic}}</ref>
The site sometimes enlists politician and celebrity contributors; these have included Senator Rand Paul,<ref name="SenPaul">{{cite web |first=Rand |last=Paul |author-link=Rand Paul |url=http://www.policymic.com/articles/29569/i-filibustered-to-defend-millennials |title=I Filibustered to Defend Millennials |publisher=PolicyMic |date=March 13, 2013 |access-date=June 16, 2014 |archive-url=https://archive.today/20140508175322/http://www.policymic.com/articles/29569/i-filibustered-to-defend-millennials |archive-date=May 8, 2014 }}</ref> former Secretary of State Condoleezza Rice,<ref name="Rice">{{cite web |first=Condoleezza |last=Rice |author-link=Condoleezza Rice |url=http://www.policymic.com/articles/1812/america-tries-its-best |title=America Tries its Best |publisher=PolicyMic |date=October 3, 2011 |access-date=June 16, 2014 |archive-url=https://archive.today/20140508175321/http://www.policymic.com/articles/1812/america-tries-its-best |archive-date=May 8, 2014 }}</ref> Senator Kirsten Gillibrand<ref name="Gillibrand">{{cite web |first=Kirsten |last=Gillibrand |author-link=Kirsten Gillibrand |url=http://www.policymic.com/articles/38771/ending-the-epidemic-of-sexual-assault-in-the-military |title=Ending the Epidemic of Sexual Assault in the Military |publisher=IdentityMic |date=April 30, 2013 |access-date=June 16, 2014 |archive-url=http://webarchive.loc.gov/all/20130501224323/http%3A//www.policymic.com/articles/38771/ending%2Dthe%2Depidemic%2Dof%2Dsexual%2Dassault%2Din%2Dthe%2Dmilitary |archive-date=May 1, 2013 }}</ref> and radio host Daisy Rosario.<ref name="DMRLUSAPROF">{{cite web|title= Daisy Rosario|url=http://latinousa.org/reporter/daisy-rosario/?page=all|publisher=Futuro Media Group|access-date=September 12, 2016}}</ref> In December 2013, the White House worked with Mic on what was called an "Open Mic" competition to "make health care work for our generation".<ref name="CNY">{{cite web |last=Bhuiyan |first=Johana |url=http://www.capitalnewyork.com/article/media/2013/12/8536935/white-house-taps-policymic-engage-millennials-aca |title=White House taps PolicyMic to engage millennials on A.C.A. |work=Capital New York |date=December 4, 2013 |access-date=June 16, 2014 |archive-url=https://web.archive.org/web/20160304042810/http://www.capitalnewyork.com/article/media/2013/12/8536935/white-house-taps-policymic-engage-millennials-aca |archive-date=March 4, 2016 }}</ref><ref name="PM">{{cite web |last=Horowitz |first=Jake |url=http://mic.com/articles/76507/here-s-what-millennials-think-obama-should-do-to-make-health-care-better-for-our-generation |title=Here's What Millennials Think Obama Should Do to Make Health Care Better for Our Generation |publisher=PolicyMic |date=December 12, 2013 |access-date=March 19, 2015}}</ref><ref>{{Cite web |author=OpenMic Editors |date=March 31, 2014 |title=The White House Responds to PolicyMic's Health Care Open Mic |url=http://mic.com/articles/86557/the-white-house-responds-to-policymic-s-health-care-open-mic |publisher=PolicyMic |access-date=March 19, 2015}}</ref>
==Funding and revenue== Mic generates revenue through advertising known as "branded content". Digiday.com reported in November 2014 that "brands like Microsoft, Cole Haan, Cadillac and most recently GE have all tapped Mic in the last few months in the hopes of using its millennial expertise to reach the site's audience of educated 20-somethings".<ref>{{cite magazine |last=Bilton |first=Ricardo |url=http://digiday.com/publishers/inside-mics-millennial-native-ads-pitch-brands/ |title=Inside Mic's millennial native ads pitch to brands |magazine=Digiday |date=November 25, 2014 |access-date=March 11, 2015}}</ref>
''The New York Observer'' positively reacted to the company's financial practices in 2014, saying that Mic had not made a profit and "is in the increasingly rare habit of actually paying each one of its contributors".<ref name="NYO">{{cite news|url=http://observer.com/2014/04/policymic-raises-10-million-to-keep-chasing-the-millennial-news-audience/|title=PolicyMic Raises $10 Million To Keep Chasing The Millennial News Audience|last=Smith|first=Jack IV|date=April 29, 2014|work=The New York Observer|access-date=March 19, 2015}}</ref>
As of April 2017, the company had raised $52 million<ref name=":0">{{Cite news|url=https://www.wsj.com/articles/digital-publisher-mic-raises-21-million-in-series-c-round-1491559201|title=Digital Publisher Mic Raises $21 Million in Series C Round|last=Shields|first=Mike|date=April 7, 2017|work=Wall Street Journal|access-date=April 7, 2017|issn=0099-9660}}</ref> in funding from investors, including Lightspeed Venture Partners, Lerer Ventures, Advancit Capital, Red Swan Ventures, The John S. and James L. Knight Foundation,<ref name="TechCrunch">{{cite web|url=https://techcrunch.com/2013/10/15/policymic-funding-redesign/|title=PolicyMic Raises $3M, Betting That Millennials Want Substantive News and Commentary|last=Ha|first=Anthony|date=October 15, 2013|publisher=TechCrunch|access-date=June 16, 2014}}</ref> Time Warner Investments, Kyu Collective and You & Mr Jones.<ref name=":0" /> The company has not disclosed its valuation,<ref name="CNN" /> though The Wall Street Journal reported in April 2017 that it was "in the range of the 'mid hundreds of millions' of dollars."<ref name=":0" />
The company laid off several employees in late 2017, as did other digital media companies.<ref name="shields">{{cite news |last1=Shields |first1=Mark |title=Digital media startup Mic says it's doing just fine despite talk of an industry Armageddon |url=http://www.businessinsider.com/digital-media-startup-mic-wants-to-set-the-record-straight-2018-3 |access-date=6 June 2018 |work=Business Insider |date=11 March 2018|url-access=subscription }}</ref> Inconsistencies in tracking viewer numbers, changes in Facebook's algorithms and advertising rates, and an overemphasis on search-friendly text stories were all cited as partial reasons.<ref name="shields" /><ref>{{cite news |last1=Mullin |first1=Benjamin |title=How Many People Did That Story Reach? It Depends Who's Counting. |url=https://www.wsj.com/articles/how-many-people-did-that-story-reach-it-depends-whos-counting-1515668400 |access-date=6 June 2018 |work=Wall Street Journal |date=11 January 2018}}</ref> The company shifted business models, with less content being produced overall in favor of longer-form video journalism covering social justice and progressive causes. ''Business Insider'' cited the company's strategy as an example of the "pivot to video" idea common among digital media companies during that time.<ref name="shields" />
==See also== * Mashable
==References== {{reflist|30em}}
==External links== *{{official website|https://mic.com}}
{{Bustle Digital Group}}
{{DEFAULTSORT:Mic}} Category:2011 establishments in New York City Category:Online mass media companies of the United States Category:Mass media companies established in 2011 Category:Internet properties established in 2011 Category:2018 mergers and acquisitions