PanAfrican Investment Co backs Daily Secret

Digital media brand Daily Secret said Wednesday that it has received Series B funding. No financial terms were disclosed although some outlets report the amount to be $1.25 million. PanAfrican Investment Co., which was founded by Richard Parsons and Ronald Lauder, was the lead investor. Return backers Greycroft Partners and eVentures also participated in the round.

PRESS RELEASE

(PRWEB) January 29, 2014
DAILY SECRET Inc., the creator of highly curated daily email newsletters geared towards influential young professionals in high-growth international markets, announced today that it has raised a new round of capital led by PanAfrican Investment Co. (PIC). PIC is a private investment firm founded by former Chairman of the Board and CEO of Time Warner, Inc., Richard Parsons, and Ronald Lauder, prolific investor and founder of Central European Media Enterprises, Ltd. The round includes participation from existing investors Greycroft Partners and eVentures. Investors in the prior round include Trigger Media, founded by Andy Russell who has also overseen investments in other successful email newsletters including Daily Candy, Thrillist, InsideHook, PureWow and TastingTable.
The investment will further expand the company’s media portfolio to grow into one of the world’s leading media companies. With over 1.8 MM members subscribed to its signature product, a free daily email newsletter distributed across 20 countries, DAILY SECRET plans to add over 15 new destinations over the next year, including some of Africa’s fastest growing markets.
“DAILY SECRET is helping marketers reach the intelligent, millennial audience that has an inherent distrust of sales and advertising. This new investment is helping us expand said reach geographically,” said Nikolaos Kakavoulis, CEO of DAILY SECRET. “In addition to the continued support from our existing investors, we are also thrilled to gain the tremendous media and business expertise of Ronald Lauder and Dick Parsons.”
Consumers in emerging countries account for 50% of the growth in global digital ad spend. DAILY SECRET has established itself as the leader in the global email newsletter-publishing arena, and has seen significant consumer adoption in emerging markets including India, China, Mexico, Turkey, Argentina, and Peru, as well as in developed markets such as Canada and the United Kingdom. Its free daily emails are localized to each market and inform their subscribers– influential, educated, affluent, and connected young urban professionals- about hidden gems such as restaurants without a sign, tucked-away bars, pop-up shops, and hush-hush events, all uncovered by the DAILY SECRET editorial team. Its loyal and engaged audiences allow DAILY SECRET to provide advertisers with a global turnkey marketing solution for premium audiences.
“We look forward to working with Nikolaos and his team to bring their solutions to sub-Saharan Africa,” said Dana Reed, CEO of PIC. “We believe Daily Secret will help promote tourism in Africa, while creating jobs on the continent.”
About DAILY SECRET, Inc.:
DAILY SECRET (http://www.dailysecret.com/) is one of the fastest growing digital media brands for premium audiences around the world. Covering over 35 markets, its signature daily email newsletter reveals coveted bars, restaurants, shops and all around local ‘secrets’ while integrating brands around passion points. Headquartered in New York, NY and Athens, Greece, DAILY SECRET serves over 1.8 million subscribers every day. For more information visit http://company.dailysecret.com/.
About PIC, LLC:
Headquartered in New York with offices in London and Dubai, PIC is a private investment firm founded by Dick Parsons and Ronald Lauder. Their mission is to invest in companies and provide solutions that affect growth and development in sub-Saharan Africa. Dick Parsons is the former Chairman of the Board of Citigroup, Inc., and was the Chairman of the Board and CEO of Time Warner, Inc. Ronald Lauder created Central European Media Enterprises, Ltd., a leading commercial television company that reaches 95 million people in seven countries throughout Central and Eastern Europe. http://www.picinvest.com

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