×
You will be redirected back to your article in seconds

Food And Travel Video Startup Tastemade Raises $40 Million From Goldman Sachs, Others

Los Angeles-based food and travel video startup Tastemade has raised a $40 million Series D round of funding. Tastemade co-founder Larry Fitzgibbon told Variety that the company wants to use the many to build out its technical infrastructure, and bring original content into additional markets.

Tastemade started out as a food-focused multi-channel network on YouTube, but has since evolved to produce original food and travel programming for a number of different platform, including its own mobile apps as well as its Apple TV app, Facebook, Snapchat, Twitter and elsewhere. “We have always thought of it as a bit of a pyramid,” said Fitzgibbon. Tastemade now has more than 100 million viewer watching more than one billion originally produced videos every month across these platforms as well as its own YouTube channels, he added.

SEE MORE: Cooking Channel Picks Up Tastemade ‘Grill Iron’ Web Series for TV

The company wants to double down on this multi-platform approach by building out technology that helps to target each of them. ‘We might do different cuts for Twitter or Instagram or Facebook,” Fitzgibbon said. To that effect, Tastemade also wants to grow its team to build out its platform.

And finally, Tastemade is looking to expand into additional international markets. Tastemade’s videos are already being watched around the world, but outside of the U.S., the company has really only targeted Brazil with localized original content, including cooking shows in Portuguese that are served up to Brazilians via its Apple TV app.

Going local has paid off in Brazil: The company now generates hundreds of millions of monthly video views in the country alone. That’s why in 2016, Tastemade wants to target other countries with local original content as well. “It’s a global opportunity,” said Fitzgibbon.

Tastemade’s latest round of funding comes from Goldman Sachs, as well as existing investors Redpoint Ventures, Raine Ventures, Comcast Ventures, Liberty Media, Scripps Networks Interactive, and Tohokushinsha Film Corporation. Including the latest cash infusion, Tastemade has raised around $80 million so far. The company employs around 50 people.

More Digital

  • Amazon

    Amazon Music’s Free Tier Is More Advertising Play Than Spotify Killer, Analysts Say

    When news began to spread last week that Amazon Music’s long-anticipated free streaming tier was imminent, headlines emerged about its threat to Spotify and Apple Music, with some stories saying that Spotify’s stock price dropped in response to the news. But not only was today’s launch of the free tier basically a soft one — [...]

  • Gay Chorus Deep South

    Why Airbnb Produced Documentary 'Gay Chorus Deep South,' Its First-Ever Film (EXCLUSIVE)

    The latest player to hit the film-festival circuit may be a bit unexpected: Airbnb, the travel-accommodations booking marketplace, developed, financed and produced documentary film “Gay Chorus Deep South,” set to premiere at the 2019 Tribeca Film Festival on April 29. It’s the company’s very first feature film. Directed by David Charles Rodrigues, “Gay Chorus Deep [...]

  • Amazon

    Amazon Music Launches Free Streaming Tier, Through Alexa Only (for Now)

    Amazon Music today basically soft-launched its free streaming tier, in which U.S. customers of its Alexa voice assistant will have access to top Amazon Music playlists and thousands of stations, at no cost. The limited access that the new free service provides — it’s only available through Alexa, and when the listener requests a song, [...]

  • Ben Silbermann, Evan Sharp. Pinterest co-founder

    Pinterest Shares Up Close to 29% on IPO Day

    Shares of the social pinning service Pinterest closed at $24.45 — 28.6% above their IPO price — on the company’s first day at the New York Stock Exchange Thursday as investors were looking to get in on the latest tech listing. Pinterest’s shares opened at $23.75, 25% above the IPO pricing of $19 per share, [...]

  • Netflix Logo

    Netflix to Open Production Hub in New York City Encompassing 100,000 Square Feet

    Netflix plans to open a new production and office facility in Manhattan — which will provide up to $100 million in investments to New York City and result in hundreds of new jobs, according to New York State Gov. Andrew M. Cuomo. Netflix’s new corporate offices in the Big Apple will take up 100,000 square [...]

  • MoviePass card

    MoviePass Has Lost Over 90% of Its Subscribers in Less Than a Year (Report)

    MoviePass users apparently hit the exits en masse after it scaled back the number of movies users could see each month: The flailing cinema-subscription provider has seen its subscriber rolls plunge from a peak of more than 3 million to just 225,000 in under a year, according to a new report. The numbers were reported [...]

  • The Nashville, Tenn. downtown area and

    Nashville City Council Sides With Songwriters Against Streamers’ CRB Appeal

    Nashville city leaders have sided against the streaming services Amazon, Spotify, Google and SiriusXM/Pandora in the appeal of the Copyright Royalty Board’s decision that would give songwriters a pay raise. The Nashville Metro Council adopted the resolution as part of its consent agenda earlier this week, although the move is “purely symbolic” and the streamers [...]

More From Our Brands

Access exclusive content