×
You will be redirected back to your article in seconds

Jeffrey Katzenberg’s WndrCo Invests in TYT Network as Part of $20 Million Round

WndrCo, Jeffrey Katzenberg’s mobile-entertainment holding company, has made one of its first investments: It’s taken a stake in TYT Network, one of the top online-video political news networks.

TYT Network, whose flagship show is The Young Turks, closed $20 million in funding led by growth equity firm 3L Capital with participation from Greycroft, e.ventures and WndrCo.

The company said it will use the investment to hire additional management execs and creative talent, as well as enhance its subscription-video offering and expand marketing initiatives. TYT also said it expects to tap into the relationships of its new investors — 3L, Greycroft, e.ventures and WndrCo — for new growth opportunities.

TYT, with more than 200 million views a month on YouTube, was founded by CEO Cenk Uygur (pictured above) as an online radio show in 2002. The Young Turks, the left-leaning news and commentary show co-hosted by Uygur, is now the longest-running daily live-streamed show online.

“TYT has done a tremendous job developing a deeply engaged millennial community, as evidenced by the size of its paid subscription membership and total watch time,” 3L managing partner Shawn Colo said in a statement. “This financing will allow the company to accelerate its reach and further its leadership in the massive and evolving market of online news and entertainment.”

With the investment, Colo is joining the TYT board.

L.A.-based TYT Network operates 30 owned-and-operated channels and shows including The Young Turks, What the Flick?!, ThinkTank, TYT Sports, TYT Interviews, TYT Politics, Pop Trigger, and Nerd Alert.

Last month, TYT recruited Rotten Tomatoes editor-in-chief Matt Atchity as head of programming, among other editorial hires.

More Digital

  • Cory-Haik-Vice

    Vice Media Hires Cory Haik, Former Mic Publisher, as Chief Digital Officer (EXCLUSIVE)

    Vice Media has recruited Cory Haik, former publisher of digital news start-up Mic, as chief digital officer to lead the youth-culture company’s global internet businesses. Haik will be based at Vice’s Brooklyn headquarters and report to CEO Nancy Dubuc. She most recently worked at Mic, which last fall laid off virtually its entire staff before [...]

  • Snapchat logos

    Porn Studio Starts Building X-Rated Snapchat Lenses, Encourages Users to Do the Same

    Adult entertainment company Naughty America wants to use augmented reality to get the word out about its paid services. The company has begun to make Snapchat lenses featuring some of its models, and is teaching its audience to do the same. Naughty America shared three such lenses on its website (link not safe for work) [...]

  • New, Likely Cheaper Galaxy Home Speaker

    Samsung Is Getting Ready to Introduce Second Smart Speaker

    Samsung still isn’t selling its Galaxy Home smart speaker, but the company may be getting ready to introduce a second model soon: An FCC filing for an “AI speaker” suggests that the new model, like the original Galaxy Home, will be dual-branded, featuring both Samsung’s own brand name as well as that of its audio [...]

  • Streaming Placeholder

    TikTok Owner Preparing Streaming Service to Rival Spotify (Report)

    ByteDance, the Beijing-based owner of the TikTok video app, is developing a paid streaming music service aimed at the same emerging markets that Spotify and Apple are seeking to explore, according to a report in Bloomberg. The app could be introduced as early as autumn, according to the report, which adds that the company has [...]

  • VidCon-Now-Stacey-Kelly

    VidCon Launches First Original Series to Promote Creators Year-Round

    VidCon brings together thousands of fervent fans at its annual conventions, who flock to the events to see their favorite YouTubers and other digital celebs in the flesh. Now the Viacom-owned division is trying to keep the excitement burning during the VidCon off-season, too. This week VidCon is launching its first foray into original content [...]

  • Stranger Things

    Coca-Cola Will Revive New Coke in Alliance With Netflix, 'Stranger Things'

    A rush of TV watchers to streaming video has prompted Coca-Cola to test an interesting pour. Coca-Cola will bring New Coke back to market for a brief time, all part of a partnership with Netflix, which has featured Coke in its cult-favorite series “Stranger Things.” The third season of the series, set in 1985, will [...]

More From Our Brands

Access exclusive content