Selling Group Nine Media, The Evolution of New York's Startup Scene and The Future of Digital Media with Ben Lerer, Managing Partner at Lerer Hippeau

Ben Lerer, Managing Partner of Lerer Hippeau. The Consumer VC episode #316

Also available on Spotify and Apple Podcasts

---

This Episode is Brought to You by Propeller Industries.

Propeller Industries is the leading strategic finance and accounting partner for venture-stage companies. Thinking about profitability, extending your runway, and improving efficiency in your operations? Managing your company’s finances requires multiple skill sets. Propeller’s fractional model offers a dynamic solution that provides a cost-effective alternative to hiring full-time finance talent.

---

Hey Friends,

Our guest today is Ben Lerer. Ben Lerer is a Managing Partner at Lerer Hippeau. Lerer Hippeau is a venture capital fund based in New York who were early investors in Warby Parker, Glossier, and Topicals. He also founded Thrillist, an online media website website back in 2004 and was former CEO of Group Nine Media until it was acquired by Vox Media.

We discuss:

• Why he ended up selling Group Nine Media

• His transition to VC full time

• Why Lerer Hippeau started off as only investing in consumer

• How NYC’s startup scene has evolved

• What’s the current bar investing in consumer businesses

• Why his goal is for his companies not to have to raise late rounds

• Can an investor kill a company if they don’t exercise their pro-rata rights & more