The bad boy of digital media is now the king of the hill. Vice Media, the Brooklyn-based online news operation which has a strong following among 18- to 34-year-olds, has secured $500 million in funding at a valuation of $2.5 billion, according to reports in the New York Times and TechCrunch. While many in mainstream media know little about Vice, its unusual rise has not surprised analysts who follow digital sector. Vice has done one of the hardest things to do in media today which is to reach the young demographic, the cord cutters, the non-newspaper readers, says Rebecca Lieb, an analyst following digital media for Altimeter Group.
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