You will be redirected back to your article in seconds

Latino YouTube Network MiTú Raises $10 Million, Led by Maker Studios Investor

Latino digital multichannel network MiTú raised $10 million in second-round funding, led by L.A.-based venture capital firm Upfront Ventures, one of the original investors in Maker Studios.

MiTú said it will use the new funding, which brings it to about $13 million raised, to build out production facilities in Los Angeles and Mexico City, as well as expand its engineering and sales teams. Other investors, which also contributed to the round, include the Chernin Group; Allen DeBevoise, chairman of Machinima; and Advancit Capital, the VC firm founded by Shari Redstone and Jason Ostheimer.

Upfront Ventures was an investor in Maker Studios, which Disney acquired earlier this spring in a deal worth up to $950 million. The Disney/Maker deal has spurred a wave of interest in YouTube MCNs by traditional media conglomerates.

“Having been an early and prolific investor in online video, I came to the conclusion that the future will be built around strong vertical content channels,” Mark Suster, managing partner of Upfront Ventures, said in a statement. “When I met the team at MiTú I knew they understood the mixture of Latino meets online video better than anybody else I had met and became excited to be a partner with them.”

MiTú was founded in 2012 by industry veterans Doug Greiff, Beatriz Acevedo and Roy Burstin. The company claims to deliver more than 400 million monthly video views of content from 1,200 partners, with 40 million YouTube subscribers. Earlier this year, the company inked a content-licensing pact with AOL to provide Latino-focused digital video content, to further expand MiTu’s reach beyond YouTube.

The MCN’s variety talk show “El Show with Chuey Martinez” is currently being adapted into a latenight series for Turner Broadcasting System’s HLN.

Upfront Ventures manages more than $1 billion across four funds. Its investments have included TrueCar, Envestnet, Overture and CitySearch.

Popular on Variety

More Digital

  • Editorial Use onlyMandatory Credit: Photo by

    YouTube Rolls Back Verification Changes, Says Verified Creators Can Keep Their Badge

    A day after announcing significant changes to its verification program, YouTube announced Friday afternoon that it won’t be de-verifying existing creators after all. “We heard loud and clear how much the badge means to you,” said YouTube product manager Jonathan McPhie in a blog post. “Channels that already have the verification badge will now keep it [...]

  • BLive: BitTorrent Live Streaming App to

    BitTorrent to Launch Public Beta of New Live Streaming App

    BitTorrent is getting ready to open the floodgates for its new live streaming app, dubbed BitTorrent Live: The company plans to launch a BitTorrent Live Android app on various app stores as part of a public beta test late Friday, according to a spokesperson. BitTorrent Live, which is also known as BLive, is being described [...]

  • Netflix - Apple TV

    Netflix Stock Drops After CEO Acknowledges 'Tough Competition' Coming From Disney, Apple

    Netflix shares fell as much as 7% Friday to a nine-month low, coming after CEO Reed Hastings commented that the November launches of Disney Plus and Apple TV Plus will introduce a “whole new world” of competition. Hastings, speaking at the Royal Television Society conference Friday in Cambridge, England, said, “While we’ve been competing with [...]

  • Facebook

    Facebook Suspends Tens of Thousands of Apps During Privacy Investigation

    Facebook has suspended tens of thousands of apps ever since it began investigating potential privacy abuses, the company said Friday. The apps in question had been built by around 400 developers, and a suspension doesn’t necessarily indicate actual privacy violations. Facebook began combing through millions of apps that made use of its platform after the [...]

  • tivo logo

    Tivo Plans to Launch Android TV Dongle, Tivo+ Curation App

    DVR maker Tivo is getting ready to release a new device that may not record television at all: The company plans to launch a $50 Roku-like TV dongle early next year, its new CEO Dave Shull revealed in a conversation with CNN this week. The new device will be powered by Google’s Android TV platform, [...]

  • Still from "Andhadhun"

    Microsoft Streaming Deal Lifts Shares in India’s Eros

    Shares of leading Bollywood film distributor Eros International soared by 38% on Thursday following news of the company’s link up with Microsoft to develop a new generation of video streaming platform. The multinational company said that its Eros Now video operation would work with Microsoft Azure to develop its technology in three ways. They seek [...]

  • Comcast X1 DAZN

    Comcast Adds DAZN Sports-Streaming Service to Xfinity Flex, Sets Launch on X1

    DAZN, the digital sports service headed by ex-ESPN boss John Skipper, is now available to Comcast broadband customers on Xfinity Flex and will be available on Xfinity X1 this fall. It’s the first distribution deal for DAZN with a major U.S. provider since it debuted the combat-sports-oriented service in the States a year ago. In [...]

More From Our Brands

Access exclusive content