Tapping into Niche Media Markets with Industry Dive Co-founders
Sean Griffey and Ryan Willumson are the co-founders of Industry Dive, a digital media company delivering business news and original analysis through targeted newsletters. Covering sectors like healthcare, energy, transportation, retail, and more, Industry Dive serves over 14 million North American users and partners with major clients including Amazon, Salesforce, Uber, IBM, and American Express. The company is known for producing some of the most respected journalism in the business world.
In this episode, Sean and Ryan discuss how they met while working at FierceMarkets, a B2B e-media startup, and what inspired them to launch Industry Dive. They share how they bootstrapped the company, built a loyal audience, and grew the business to $100 million in revenue before its acquisition by Informa in September 2022.
Later in the episode, Lucy Bickel—an incoming senior majoring in advertising with minors in entrepreneurship & innovation: new ventures and digital media trends & analytics—joins the conversation. Together, they explore how Industry Dive developed its code of ethics, its approach to advertising, and the secret behind Sean and Ryan’s enduring co-founder relationship.
The Dare to Disrupt podcast is made possible by the generous support of the Penn State Smeal College of Business.
Episode Chapters
0:00 – 9:54 Finding their way at Penn State
9:54 – 12:01 Leaving consulting to get MBA to maximize impact
12:01 – 14:21 Ryan joins startup world
14:21 – 20:44 Adjusting to the scrappy startup environment
20:44 – 24:16 Selling Fierce Markets
24:16 – 27:53 Sean and Ryan partner up to launch Industry Dive
27:53 – 31:33 Going deep into niche markets rather than wide
31:33 – 36:17 Not taking on VC funding, impact on culture
36:17 – 40:48 Deciding to take in private equity capital
40:48 – 48:31 Student section
40:48 – 42:41 Establishing ethical journalism practices
42:41 – 45:16 Working with advertising partners
45:16 – 48:31 Secrets to a successful business partnership
About Sean Griffey
Sean Griffey is co-founder and former CEO of Industry Dive. He graduated from Penn State University’s Smeal College of Business with a BS in economics and received an MBA from Northwestern’s Kellogg School of Management.
About Ryan Willumson
Ryan Willumson is co-founder and former CRO of Industry Dive. He graduated from Penn State University’s Smeal College of Business with a BS in finance and international business.