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21st Century Fox leads new funding round for theSkimm

MUMBAI: 21st Century Fox has led an $8 million ‘B’ funding round for theSkimm, a multi-platform audience company that curates news, events and information for today’s millennials.

Existing investors RRE Ventures, Greycroft Partners and Homebrew have also joined 21st Century Fox in the funding round.

Founded by entrepreneurs Danielle Weisberg and Carly Zakin, theSkimm reaches over 3.5 million active subscribers with its core product, the Daily Skimm newsletter, and boasts of a powerful engagement and thousands of brand ambassadors.

Last month, theSkimm expanded its product offering to include Skimm Ahead, a paid subscription app, which debuted as No. 1 in the news category and Number 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 the ability to drive meaningful engagement with their community of users. Carly and Danielle have mastered the art of building communities and quickly proven that 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’s Fox Networks Group president, COO Randy Freer said.

“21CF had an immediate understanding of the power of our community and our commitment to build a multi-platform audience company. 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,” Weisberg and Zakin said.