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Digital food network Tastemade closes $25 mn funding round
MUMBAI: Digital food network Tastemade has closed a $25 million Series C round of funding, led by Scripps Networks Interactive with participation by Liberty Media.
The round also includes existing investors Redpoint Ventures, Raine Ventures and Comcast Ventures.
Tastemade also announced plans to release its Tastemade app for Android later this month. Available first on Samsung devices, Tastemade will continue to develop its platform and community as well as expand content partnerships with leading brands to reach millennial consumers interested in exploring new ways to share and celebrate food.
Tastemade co-founder Larry Fitzgibbon said, “The new funding will enable us to accelerate our vision to create a global community of food lovers who share their passion for food through video. Video is how our ‘Tastemakers’ connect with their rapidly growing audiences. By launching the Tastemade App for Android, we reach a new group of consumers and empower them to create amazing videos, discover the best places and connect with a like-minded community of food lovers.”
The Tastemade app allows consumers to create their own bite-sized, HD-quality episodes of the places and dishes they love—right from their smart device in just minutes. Shot, produced and uploaded directly from the app, these fun and informative, easy-to-create, one-minute video “raves” can be shared with a global community of food lovers across mobile and social platforms.
Scripps Networks Interactive chief financial and administrative officer Joseph G. NeCastro said, “Scripps Networks Interactive has a vested interest in staying abreast of the changing media environment. We’ve staked a strong claim in the food category, and Tastemade is bringing real innovation to the digital food space. Today’s food lover is both creating and sharing content, and Tastemade has developed technology to harness this creativity through the power of video.”
Growing at triple-digit rates year-over-year, the Tastemade Network now reaches over 18 million monthly unique visitors (YouTube Analytics) across 200+ countries/territories. Tastemade content appears in over a dozen languages across multiple networks and devices, including Hulu, YouTube, AOL, Yahoo!, as well as the Tastemade App.