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.
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
“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.
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.