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TYT NETWORK RAISES $20 MILLION ROUND OF FUNDING
-- 3L Capital Leads Round with Greycroft, e.ventures and WndrCo participating --
LOS ANGELES – Aug 8, 2017 – TYT Network (TYT; www.TYTNetwork.com), the largest online news network for millennials in the world, covering politics, pop culture and lifestyle, announced the company has closed $20 million in funding. The round was led by growth equity firm 3L Capital and included participation from Greycroft, e.ventures and WndrCo.
TYT will use the investment to expand its roster of management and creative talent, enhance its subscription offering, expand marketing initiatives and strengthen content and community engagement.
Experts in the media and technology industries, 3L, Greycroft, e.ventures and WndrCo bring deep connections to leaders across multiple platforms and verticals. TYT will leverage those relationships for new opportunities to further boost its explosive growth.
“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” said 3L Co-Founder and Managing Partner Shawn Colo, who will join the board of TYT as part of the investment. “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 more than 200 million views a month, TYT is one of the largest online news and entertainment networks in the world. Founded by Cenk Uygur, TYT has grown from an online radio show in 2002 to the No. 1 digital video provider in the news and entertainment category. An early pioneer of the online video industry, TYT’s flagship show, The Young Turks, is now the longest-running daily live streamed show online.
TYT has become the voice of news for the millennial, connected generation with a devoted audience accustomed to news content that resonates with young, progressive viewers. TYT’s shows offer authentic, honest, irreverent, fun and truth-to-power opinions, analysis and commentary.
“The past few years have been wildly successful for TYT, but we started to realize we’re just at the tip of the iceberg,” said TYT CEO, Co-Founder and Host Cenk Uygur. “We’ve perfected news and commentary that appeals to the highly-desirable young, cord-cutting audience. Now, we’ve found partners at 3L, Greycroft, e.ventures and WndrCo who believe in our vision and will help us grow exponentially.”
The leader in online news streaming, TYT programming can be on be found on nearly every digital platform, including YouTube, Facebook, Twitter, Instagram, Hulu, Amazon Video Direct, Comcast Watchable, PlutoTV, TuneIn, iTunes, SiriusXM, AOL and more.
For more information on TYT, please visit www.TYTNetwork.com.
ABOUT TYT NETWORK TYT is the largest online news network in the world for millennials covering politics, pop culture and lifestyle. One of the top multi-platform online content creators, TYT Network generates over 200 million views a month and 7 billion total views, across all platforms. According to the most recent comScore ratings, TYT ranks #1 in News and Politics on all digital platforms among the millennial audience (18-24).
The Young Turks won the 21st Annual People’s Voice Webby Award for Online Film & Video - News & Politics series and was also recognized with the Audience Honor at the 10th Annual Shorty Awards under Overall YouTube Presence. The Young Turks was awarded the Imagen Vision Award and the Vote It Loud Fifth Estate: Champion in Media Award for Best in New Media in 2016. In 2015, The Young Turks was named to Variety’s FameChangers List (No. 7) and The Hollywood Reporter’s Next Gen List (No. 1 in the News category).
Host Cenk Uygur has been named one of the 25 Most Influential People in Political News, according to Mediaite. Co-Host Ana Kasparian was named to the 2016 Forbes 30 Under 30 Media List and The Daily Dot’s 20 Women of YouTube list.
TYT Network includes 30 owned and operated and partner shows such as The Young Turks, What the Flick?!, ThinkTank, TYT Sports, TYT Interviews, TYT Politics, Pop Trigger, Nerd Alert and more.