New York based media company Mashable has received Series A funding from Tribune Digital Ventures. No financial terms were disclosed although some outlets reported the amount to be $700,000.
New York, NY (PRWEB) March 02, 2014
Mashable, the leading media company for the Connected Generation and the voice of digital culture, announced today that Tribune Digital Ventures (TDV) has invested in the company’s Series A capital raise, which is now complete.
Tribune’s contribution to the round – Mashable’s first since its founding in 2005 – brings total investment in this round to $14 million.
“Tribune Digital Ventures’ leadership has roots and expertise in both technology and media, and we’re thrilled to have them on as investors,” said Pete Cashmore, Chief Executive Officer and Founder of Mashable. “Their focus on premium content and digital advertising, across all platforms, aligns well with our core values and strategy.”
“We are very excited to play a role in the future of Mashable, a leading source of news and information for the connected generation,” said Shashi Seth, President of Tribune Digital Ventures. “Tribune Digital Ventures looks forward to collaborating with the talented folks at Mashable and assisting with the company’s growth.”
In January, Mashable announced the initial close for its first capital raise of $13.3 Million led by Updata Partners. Other investors who participated in the Series A round include New Markets Venture Partners; Social Starts; Michael and Kass Lazerow, serial entrepreneurs and co-founders of Buddy Media; Elio Leoni Sceti, CEO of Iglo Group and tech private investor; and David Jones, outgoing CEO of Havas, social entrepreneur, and Founder of One Young World.
In 2014 Mashable has already:
Expanded its editorial team with the addition of Andrew Freedman, as Mashable’s first Climate Reporter, Brian Ries, Real-Time News Editor and Jessica Plautz, Travel Editor.
Experienced rapid growth in advertising sales through integrated partnerships with blue chip clients.
Announced global expansion with new New York headquarters and continuing plans of expansion to Los Angeles and London.
Mashable is a leading source for news, information and resources for the Connected Generation. Mashable reports on the importance of digital innovation and how it empowers and inspires people around the world. Mashable’s record 34 million unique visitors worldwide and 14 million social media followers are one of the most influential and engaged online communities. Founded in 2005, Mashable is headquartered in New York City with an office in San Francisco.
About Tribune Digital Ventures:
Tribune Digital Ventures (TDV), was launched in 2013 as a stand-alone unit of Tribune Company. It is responsible for the creation, design, and development of digital products and services that leverage the company’s content and data, and extend the reach of its distribution platform. TDV operates Tribune Media Services (TMS), a premier provider of television and movie metadata, and Gracenote, a global leader in music technology and metadata. TDV is headquartered in California’s Silicon Valley.