Vice Media buys New York tech firm to explore content distribution

By VCPOST Staff Reporter

Dec 11, 2013 03:36 AM EST

Carrot Creative, a digital firm that makes apps, games, and websites for media companies, has been bought by Vice Media . The latter will use Carrot to experiment with content distribution methods, wrote The New York Times.

According to a source familiar with the deal, the deal's value was pegged between $15 million to $20 million in combined stock and cash, the report said.

Vice has long sought ways to reinvent its business. Beginning as a magazine in 1994, the company has since advanced into video, advertising, television, music and events, among other areas. Andrew Creighton, Vice Media's president, said the firm has grown through technology, the report stated.

Creighton said of the media firm's growth and progress, "We're growing into multiple new verticals. We have a solid website, but we were focusing on content rather than tech, and now both go hand in hand."

The addition of Carrot will enhance Vice's technological capacity, said Creighton. He added that technology and media firms were no longer separate entities, The New York Times reported.

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