Blockworks, a media company that covers cryptocurrency for professionals, has acquired The Breakdown, a podcast network, Blockworks co-founder Jason Yanowitz told Axios.
Why it matters: The deal marks the company’s first acquisition since raising its first round of private capital last May.
“This acquisition marks a significant expansion of our podcast network, enhances our advertising capabilities, and broadens our distribution channels,” Yanowitz said.
Zoom in: The Breakdown will become the flagship daily podcast of Blockworks.
Zoom out: The agreement is part of a broader strategy shift at Blockworks to invest in podcasts that it can build into bigger standalone media brands via ancillary products, like newsletters and events, that cater to different audiences.
Catch up quick: Yanowitz co-founded Blockworks in 2018 with Michael Ippolito.
By the numbers: Yanowitz said the company plans to end the year with around 85 employees, up from around 65 today.
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