With an editorial staff of more than 19 regular contributors and with commentary from industry heavyweight guest "Hollybloggers", TheWrap covers the industry of entertainment and media from its headquarters in Santa Monica, California with additional editorial staff in New York City.
According to CBS Market Watch, Waxman raised $500,000 for The Wrap News, as a news portal site covering entertainment and media, which launched on January 26, 2009. A second round of financing was closed in 2010. By 2013, TheWrap.com had grown into a site with 30 employees. It also convenes an annual conference attended by leaders in entertainment, media and technology called TheGrill. TheWrap was nominated as the Best Entertainment website in 2012 and named the best online news site in both 2012 and 2009 at the National Entertainment Journalism Awards by the Los Angeles Press Club.