‘It’s too early to sell’: Why Axios is set on investing in internal growth, versus pursuing M&A in 2022

It’s been a busy and well-publicized year for Axios, which has made a ton of headlines given the newsletter publisher — known for its trademarked “Smart Brevity” style — is only five years old. 

In December 2020, the company acquired the Charlotte Agenda to get its local news arm into gear. In February, Axios launched its new software-as-a-service business, Axios HQ, which made over $1.5 million in under a year. And in the spring and summer of this year, rumors circulated the media space about whether Axios would merge with The Athletic or be acquired by Axel Springer.

Those rumblings have since quieted down and Axios’s president and co-founder Roy Schwartz said that “It’s too early at this point to sell the business or to merge it with something that would be larger than we are.”

But either thanks to or in spite of the headlines, Axios is set to hit $86 million in revenue this year, replicating the 40% year-over-year growth the company saw in the year prior — all while maintaining profitability for three years running.