21CF Leads New Funding Round For TheSkimm
Minority investment to support theSkimm’s expansion of its millennial-focused suite of products including video.
NEW YORK--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.
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.
Source: 21st Century Fox