NBC Universal picks up minority stake in New York startup NowThis News
NBC Universal News Group announced that it made a minority investment in New York startup NowThis News. The said startup wants to design a type of video journalism that will fit into the era of Facebook and smartphones, according to TechCrunch.
Under the terms of the deal, the two firms will co-produce original short news videos for mobile and social platforms. The new team-up aims to make news accessible to platforms such as Facebook, YouTube, Vine, and Snapchat. The companies will co-produce video content for NBC News, TODAY, CNBC and MSNBC. These videos will cover topics under business, politics, and pop culture. The new content will be posted on both the social sites and the mobile app of NowThis News, the report said.
The New York startup has a workforce made up of journalists who worked as senior staff at ABC News, The Huffington Post, CNN, and Washington Post. The firm previously closed $10 million from SoftBank, Lerer Ventures, and other investors. According to the New York Times, NBC picked up a 10% holding in NowThis News, the report detailed.
This is NBC's second investment this year in a non-conventional news platform. NBC Universal has just invested in tech news site Re/code, TechCrunch reported.