Blockworks, a prominent media company specializing in cryptocurrency coverage for professionals, has announced its acquisition of The Breakdown, a renowned podcast network. This strategic move signifies Blockworks’ commitment to enhancing its podcasting capabilities and expanding its presence in the cryptocurrency media landscape.
Co-founder of Blockworks, Jason Yanowitz, emphasized the significance of this acquisition, highlighting its role in augmenting the company’s podcast network, advertising capabilities, and distribution channels. Yanowitz also pointed out that the deal strengthens Blockworks’ capacity for cross-promotion of events and research initiatives.
Under the agreement, The Breakdown will transition to become the flagship daily podcast of Blockworks, encompassing The Breakdown podcast, a YouTube channel, and a newsletter, along with the Bitcoin Builders podcast. While the specific terms of the deal were not disclosed, the acquisition represents a strategic investment for Blockworks as it seeks to diversify its offerings and cater to a broader audience.
This acquisition marks a shift in Blockworks’ strategy, signaling its intention to invest in podcasts that have the potential to evolve into standalone media brands. By leveraging ancillary products such as newsletters and events, Blockworks aims to amplify the reach and impact of its podcasting endeavors, catering to diverse audiences within the cryptocurrency space.
Blockworks, founded in 2018 by Jason Yanowitz and Michael Ippolito, has steadily expanded its operations and revenue streams over the years. Initially bootstrapped, the company raised its first venture round in May 2023, garnering $12 million at a valuation of $135 million. With plans to increase its workforce to around 85 employees by the end of the year, Blockworks is poised for further growth and innovation in the cryptocurrency media landscape.
As Blockworks continues to evolve and diversify its offerings, the acquisition of The Breakdown represents a significant milestone in its journey towards becoming a leading media platform for cryptocurrency professionals. With a focus on delivering high-quality content and engaging experiences, Blockworks is well-positioned to capture the evolving demands of its audience and drive forward the conversation in the dynamic world of cryptocurrency.
