General Discussion
In reply to the discussion: The Young Turks are now running hit pieces on Mueller to help Trump [View all]a kennedy
(29,660 posts)has put us in a very good place," Mr. Uygur said
The medias Trump Bump is starting to get the attention of investors.
The Young Turks Network, the left-leaning, YouTube-driven political news outlet led by outspoken activist Cenk Uygur, has raised $20 million, which it plans to use to double the size of its newsroom and business operations.
The funding round is being led by newly formed growth equity fund 3L Capital, with additional backing from venture capital veterans Greycroft Partners and e.ventures, as well as Jeffrey Katzenbergs recently launched WndrCo.
News is red hot right now and being positioned on the progressive side of the coin has put us in a very good place, Mr. Uygur said.
He said the company currently has about 70 staffers and 30 freelancers but plans to use the investment to increase its staff to about 200 people. Part of that expansion will be in creative talent, but Mr. Uygur said it would also entail building an ad sales team and bolstering its paid subscription offerings.
The valuation of Young Turks in the deal wasnt disclosed.
https://www.wsj.com/articles/political-news-outlet-young-turks-raises-20-million-after-viewership-gains-1502186406 (from the Wall Street Journal)