The Athletic, a subscription-based sports media company that launched four years ago, recently raised $50 million in a Series D funding round, placing its current value at $500 million.
The website offers ad-free national coverage of major and minor sports categories. Subscribers pay a monthly fee of anywhere from $9.99 to $4.99 for access to more than two dozen categories of sports coverage.
The company boasts 500 full-time employees worldwide. One of its founders says the service is looking to branch into international subscribers and expand its coverage in soccer, currently the most popular sport in the world.