In 2014, PolicyMic announced they would re-brand their organization to target millennials, and renamed themselves as "Mic" [REF].According to The New York Observer at the time, Mic had not make a profit and "is in the increasingly rare habit of actually paying each one of its contributors" [REF].
As of April 2017, the company has raised $52 million[REF] in funding from investors, including Lightspeed Venture Partners, Lerer Ventures, Advancit Capital, Red Swan Ventures, The John S. and James L. Knight Foundation,[REF] Time Warner Investments, Kyu Collective and You & Mr Jones [REF].