Agency makes investment in social video discovery platform
WME is adding to its portfolio of digital investments, plunking down an unspecified sum as part of a new round of funding for social video discovery platform Chill.The talent agency is taking lead along with venture capital firm Kleiner Perkins Caufield and Byers for an $8 million investment that also includes Atlas Venture and Lowercase Capital. Chill, which boasts 18 million registered users, allows viewers to share and recommend videos from YouTube to Hulu across their social graph. Firm launched earlier this year with initial investors including Troy Carter and Paul Kedrosky. WME has been taking stakes in digital firms for several years, with current investments including cloud gaming service OToy, marketing agency Red Interactive and content monetization outfit Catch Media. The agency’s most recent investment was in social video service Airtime, which was founded by Sean Parker and Shawn Fanning. WME itself saw tech firm Silver Lake take a 31% stake in its company in May, a move that was expected to increase investments in the digital space.