Breaking: We have funding for our new media venture
We have some very cool news to share: We just completed raising money for the new media venture we plan to launch in early 2017. The Wall Street Journal scooped us on some of the details. http://on.wsj.com/2c5uf2X
Here are a few more specifics on our investors:
· Lerer Hippeau Ventures, the leading digital media venture fund, is our lead investor. They fund some of the country’s fastest-growing media properties. Eric Hippeau will serve on our board. Ken Lerer was among our earliest backers and advisers.
· NBC Universal. They are a major investor and our media partner. Our talent will appear on NBC and MSNBC, and we will collaborate on other projects. Andy Lack, the chairman of NBC News and MSNBC, will serve on our board.
· Emerson Collective. Established by Laurene Powell Jobs, the organization focuses its work on education, immigration reform, the environment, and other social justice initiatives. Peter Lattman, a former journalist at The New York Times and The Wall Street Journal, recently joined Emerson Collective to oversee its investments in media and journalism.
· Greycroft Partners, led by co-founder and Managing Director Alan Patricof. Greycroft is one of the leading venture capital funds in the country. The firm specializes in internet and mobile early stage investments.
· David and Katherine Bradley. They are the owners of The Atlantic, Quartz and National Journal. David has been a substantial player in serious journalism for the past few decades.
· Greg Penner, chairman of Walmart and founder of Madrone Capital Partners in Menlo Park, California.
· Steven Rattner, chairman of Willett Advisors LLC, a private investment firm. Steve is also a contributing writer for The New York Times opinion page and the economic analyst on MSNBC’s Morning Joe.
· Terry O’Toole, a New York-based media investor.
We are deeply grateful to our investors for their confidence, advice and financial support. Stay tuned for a number of announcements this fall about our launch plans. You can follow us on Twitter for updates and job postings.
Jim VandeHei and Roy Schwartz
P.S. Mike Allen, our other co-founder, will join us after the election.
