21st Century Fox Inc. led an $8 million investment in theSkimm, owner of the popular newsletter Daily Skimm, providing funds that the company will use to create a studio for the production of original videos.
Joining Fox in the funding round are existing investors RRE Ventures, Greycroft Partners and Homebrew, according to a statement from the companies Wednesday.
Fox saw an opportunity to invest early in an emerging media enterprise, putting the company in line to reap the benefits if theSkimm grows into a much larger business. New York-based Fox has recently invested in FuboTV, an sports video startup and ODG, an augmented reality company. It also has a 5 percent stake in Vice Media Inc.Read Complete Article