The Washington Post is looking to double down on its investment in its tech publishing arm, Arc XP, despite outside sales interest valuing the company in the low nine figures, sources told Axios.
Why it matters: The company sees more long-term value in trying to grow the business than sell it now, executives told Axios.
By the numbers: Arc XP brings in roughly $40-$50 million in annual recurring (subscription-based) revenue (ARR), sources told Axios.
Driving the news: In addition to ARR, Arc XP has long made money charging people for professional services, or consultative fees associated with helping people set up their accounts and customize them.
Details: Looking ahead, the company is making significant changes to begin growing revenue and profits faster than it has done to date.
Be smart: King's hire was seen internally and externally as a signal that The Post wasn't interested in spinning off the business, at least not yet.