FinTech news in gimlet category

Michael Mignano has joined the consumer practice of the sprawling venture firm Lightspeed Venture Partners, after previously co-founding the podcasting platform Anchor and then leading Spotify talk audio business after the streaming giant acquired Anchor in 2019 for more than $150 million. Former New York Times reporter Lydia Polgreen, who was helping to run the podcast studio Gimlet, which Spotify bought for a reported $230 million in February 2019, meanwhile left the company in April to rejoin the Times. Interestingly, Mignano joins a firm that did not invest in Anchor, though he says in a new Medium post that he first met Lightspeed when he was out fundraising for his then-nascent startup. It’s a matter of money, largely, says Mignano, writing that podcast revenues are expected to exceed $2 billion this year, while YouTube generated nearly $29 billion in video ad revenue last year alone.