TheWrap is a technology company.
TheWrap has raised $3.0M across 2 funding rounds.
TheWrap has raised $3.0M in total across 2 funding rounds.
TheWrap has raised $3.0M in total across 2 funding rounds.
TheWrap's investors include Legacy Venture.
TheWrap is not a technology company; it is an American online news organization focused on the business of entertainment and media. Founded in 2009, it delivers breaking news, investigative stories, analysis, and editorial coverage of Hollywood film, television, streaming, and related industries, serving media professionals and industry insiders with over 1 million unique monthly visitors.[1][3] Operating from Los Angeles with approximately 91-129 employees, TheWrap generates estimated annual revenue of $8.9M-$13.2M, has raised $3.5M in funding, and maintains a reported valuation of $2.5B as of March 2022, while competing with outlets like Variety, Deadline Hollywood, and The Hollywood Reporter.[1][2][4]
TheWrap was launched in late January 2009 by award-winning journalist Sharon Waxman, a former Hollywood correspondent for *The New York Times* and *The Washington Post*.[1][3] Waxman created the site to fill a gap in in-depth business coverage of the entertainment industry, emphasizing independent reporting on breaking news, analysis, and opinion amid a shifting media landscape.[3] Early growth was rapid, reaching over 1 million unique visitors per month, with key expansions including editorial hires in 2015 (e.g., Tim Molloy as Deputy Managing Editor) and further leadership additions in February 2025, such as Tom Lowry as Senior Vice President of Editorial Strategy and Jennifer Laski as Director of Photography and Video.[3] These moves bolstered coverage in business, tech, digital media, and video, alongside events like its annual Grill conference.[3]
TheWrap stands out in entertainment journalism through these key strengths:
TheWrap rides the wave of digital media transformation in entertainment, where streaming, tech-driven content distribution, and data analytics reshape Hollywood's business model.[3] Its timing aligns with the post-2009 decline of print media and rise of online platforms, positioning it as a go-to for coverage of tech-entertainment intersections like digital media, subscription models, and platform wars (e.g., Netflix vs. legacy studios).[2][3] Market forces favoring TheWrap include surging demand for real-time industry intel amid cord-cutting and AI's influence on content creation, with its Los Angeles base providing proximity to decision-makers.[1][3] It influences the ecosystem by setting narratives through scoops, fostering professional networks via events, and adapting with video/subscription expansions to compete in a fragmented news space.[3]
TheWrap's influence will likely grow through subscription products, video series, and tech-entertainment coverage, capitalizing on 2025 leadership hires amid streaming consolidation and AI tools disrupting production.[3] Trends like personalized content via data analytics and experiential events could drive revenue beyond $13M estimates, though competition from Deadline and Variety remains fierce.[1][2] As digital media evolves, TheWrap's independent edge positions it to shape industry discourse, evolving from newsbreaker to multimedia authority—correcting the tech company misconception underscores its true power in entertainment intelligence.[3]
TheWrap has raised $3.0M across 2 funding rounds. Most recently, it raised $2.0M Series B in April 2010.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Apr 1, 2010 | $2.0M Series B | Legacy Venture | |
| Jan 1, 2009 | $1.0M Series A | Legacy Venture |