Axel Springer is acquiring a stake in media company Thrillist as it spins off e-commerce business JackThreads, with the two raising a combined $54m.

Media company Axel Springer agreed yesterday to acquire a stake in US-based digital media company Thrillist as part of a deal that will involve Thrillist splitting from sister company JackThreads.

Thrillist and e-commerce company JackThreads will split into separate companies with a total of $54m in funding, Re/code reported yesterday. Axel Springer is investing an undisclosed amount in Thrillist while Oak Investment Partners and SBNY are funding JackThreads.

Ben Lerer, CEO of Thrillist, explained to Re/code: “At a certain point,…

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