21st Century Fox Leads New Funding Round for theSkimm

Minority Investment to Support theSkimm’s Expansion of its Millennial-Focused Suite of Products Including Video

NEW YORK--(BUSINESS WIRE)-- 21st Century Fox has led an $8 million B funding round for theSkimm, a multi-platform audience company that curates the news, events, and information for today’s millennial, the two companies announced today. Founded by entrepreneurs Danielle Weisberg and Carly Zakin, theSkimm reaches well over 3.5 million active subscribers with its core product, the Daily Skimm newsletter, and boasts powerful engagement and thousands of brand ambassadors across the country.

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Last month, theSkimm expanded its product offering to include Skimm Ahead, a paid subscription app, which debuted as #1 in the News category and #9 overall in the app store. theSkimm’s future plans include original video content, produced and distributed under a new umbrella called Skimm Studios. Like its other products, the video will seamlessly integrate into the routines of its audience.

“We were immediately impressed with theSkimm’s unique editorial voice, and by their ability to drive meaningful engagement with their community of users,” said Randy Freer, president and chief operating officer for 21CF’s Fox Networks Group. “Carly and Danielle have mastered the art of building community and have quickly proven they can effectively expand their suite of products to serve their ever growing audience. We look forward to supporting theSkimm’s growth, and are confident that this investment marks the beginning of a long and successful creative partnership.”

“21CF had an immediate understanding of the power of our community and our commitment to build a multi-platform audience company,” said Weisberg and Zakin. “When it comes to building brands with a singular focus on audience engagement, 21CF is the best in the game. We are thrilled to take theSkimm to the next level with their support.”

Joining 21st Century Fox in the funding round are existing investors RRE Ventures, Greycroft Partners and Homebrew.

About theSkimm

Former NBC News producers, Weisberg and Zakin founded theSkimm in 2012 guided by a mission to provide a generation that is turning away from traditional news with a fresh way to stay informed. Under the brand promise “the Skimm makes it easier to be smarter,” theSkimm has focused on integrating into the routines of its sought-after demographic. theSkimm is first and foremost about its community. Through premium natively integrated sponsorship and affiliate relationships, the Daily Skimm email has become the morning news destination for its millions of devoted followers. The iPhone app, Skimm Ahead, charges $2.99 a month, and makes it easier to be smarter about the future by curating and integrating into subscriber’s calendars the news events and cultural moments that matter most.

In addition to its thousands of brand ambassadors, theSkimm counts champions such as Oprah Winfrey, Michelle Obama, Lena Dunham, Secretary of State Hillary Clinton, Reese Witherspoon, Gov. John Kasich, Amy Schumer and Stephen Colbert, among others.

About 21st Century Fox

21st Century Fox is the world's premier portfolio of cable, broadcast, film, pay TV and satellite assets spanning six continents across the globe. Reaching more than 1.8 billion subscribers in approximately 50 local languages every day, 21st Century Fox is home to a global portfolio of cable and broadcasting networks and properties, including FOX, FX, FXX, FXM, FS1, Fox News Channel, Fox Business Network, FOX Sports, Fox Sports Network, National Geographic Channels, STAR India, 28 local television stations in the U.S. and more than 300 international channels; film studio Twentieth Century Fox Film; and television production studios Twentieth Century Fox Television and a 50% ownership interest in Endemol Shine Group. The Company also holds a 39.1% ownership interest in Sky, Europe’s leading entertainment company, which serves 21 million customers across five countries. For more information about 21st Century Fox, please visit www.21CF.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160601006003/en/

21st Century Fox
Nathaniel Brown, 212.852.7746
[email protected]
or
theSkimm
[email protected]

Source: 21st Century Fox

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