Mashable today announced it has raised $17 million in Series B round of funding, led by Time Warner Investments. The money generated will be invested to create video and other digital content, and also to hire at least 100 employees to bolster its editorial and marketing teams. Also Read - Vi introduces new Rs 447 prepaid plan: Here are the benefits are included
This influx of investment testifies the growing new media significance in the content business. WSJ reveals Mashable’s latest ComScore numbers, stating that traffic grew 17 percent in 2014, with 19.2 million unique views in December. Alexa analytics ranks Mashable at 259, with most audience coming in from US and India. Also Read - Twitter will now sell a ticket for you to join Spaces, aims to help creators earn money
Mashable is looking to use this new capital to generate more video content, a push that is being seen in many news and social organisations. Pete Cashmore founded Mashable in 2005, and since then has expanded operations in Los Angeles and London, with reporters in Ukraine and Sydney. The company currently has 170 employees and its intention to add more 100 employees also hints at further global expansion to other countries. It has already launched Australian and UK editions. Also Read - Samsung Galaxy S22 could get 50MP main rear camera sensor, not 108MP
It also announced that the capital will be used to refine its proprietary Velocity Technology, which predicts and tracks the viral life cycle of digital content, to media agencies 360i and MEC.
Rachel Lam, Group Managing Director of Time Warner Investments, will now join Mashable’s board of directors after the latest round of funding. In January last year, Mashable conducted its first round of funding, and managed to raise $13.3 million from investors led by Updata Partners. The investment round also included New Market Ventures Partners, Social Starts and Buddy Media co-founders Michael and Kass Lazerow.