Turner Broadcasting Leads a $15 Million Investment in Mashable
By Staff Writer
Apr 01, 2016 07:32 AM EDT
Apr 01, 2016 07:32 AM EDT
Mashable receive a new funding round. The digital publisher scores a $15 million in Series C funding. Turner Broadcasting leads the funding round with other investors.
Turner and other investors namely Time Warner Investments and Updata Partners altogether invested $15 million for Mashable. Along with the investment, Turner will also have access to Mashable analytic tools. Velocity is the techology which Mashable uses to help the company identifying which content will resonate in social media.
In part of partnership, Mashable and Turner will collaborate to develop content for both digital and linear distribution. Both companies will also work on crosss-sales advertising opportunities, including developing video content commissioned by marketers. The video would be distributed in multi channel, including TV and the Web, along with some Turner programming will be available in Mashable site.
Chief Creative Officer for Turner Entertainment and president of TBS and TNT Kevin Reilly, said the collaboration will help Turner to seek for unique talents and genres which have not appeared in traditional TV.
"I think they could help us find some content," he told Wall Street Journal. "A lot of companies look to make this kind of investment because they want to buy into a business they don't really understand. But this is truly strategic."
Kevin Reilly who will join Mashable's board of directors also said both companies will collaborate on branded entertainment deals with advertisers. According to USA Today, Mashable had launched Mashable Studios to create serialized video programming and "branded content" for its sites and TV partners in June last year. The company said its revenue from branded content has grown 69% year-over-year.
CEO and founder of Mashable Pete Cashmore said in a statemene regarding the partnership as quoted by AdWeek, "The most exciting thing right now is the future of TV. Turner, home to the top rated cable networks, is the perfect partner to bring the best of tech and digital culture to TV in fresh ways." He also praised Kevin Reilly who will join Mashable board as a visionary leader.
"Kevin Reilly is a creative visionary that will be a huge asset as we continue to grow as a global entertainment brand," Mr. Cashmore said.
Mashable was founded in 2005 as a digital media with vision to become the voice of digital culture and the media for the connected generation. Its news content focused on the digital innovation, and the company reported to have 45 million unique visitors every month and 28 million social media followers. Mashable is also one of the most influential digital media.
Now the new $15 million investment led byTurner has brought a new perspective to both Mashable and Turner. As both companies represent the old and new media collaboration in the Web and TV.
© 2023 VCPOST, All rights reserved. Do not reproduce without permission.