21st Century Fox leads $8M Series B funding round for theSkimm

By Jim O'Neill on Jun 01 2016 at 7:15 AM
21st Century Fox leads $8M Series B funding round for theSkimm

“What,” you may be wondering, “is theSkimm?” And, “What are/is they/it going to do with $8M?”

theSkimm self-describes as a “company that makes it easier to be smarter.” You may better recognize the term “blog.” As in, it is one.

theSkimm is targeted at Millennials, and states as its mission to “provide a generation that is turning away from traditional news with a fresh way to stay informed.”

Currently, the four-year old site and free daily email newsletter reaches 3.5 million active subscribers. It also has an iPhone app, Skimm Ahead, that launched in April and costs $2.99/mo. It integrates with iPhone’s calendar app to let you know what’s, well, ahead of you; things like when tickets go on sale for a specific concert, or when the State of the Union Address is or when a particular show is back on Netflix.

But Skimm’s founders, former NBC News producers Danielle Weisberg and Carly Zakin are ready to take theSkimm to the next level – they want to add video. And, much of that $8 million from 21st Century Fox (and from existing investors RRE Ventures, Greycroft Partners and Homebrew) will be used to do just that.

Weisberg and Zakin blogged that they planned to “introduce Skimm Studios,” which, obviously, will allow them to now produce video segments, maybe interviews and more.

The pair also plans to expand the Skimm product line and offer premium services that fit into the routines of our audience, and to also expand their team with a focus on tech, data, and product hires.

“Our goal is to be the destination for where female millennials (and more) get their information and we will continue to do that by building products and experiences for them that fit into the routines they already experience,” they blogged. “We like to say we are an audience company because it’s a fun buzz word but also because the basis of our success and the power of our company lies in the strength of our highly engaged community.”

theSkimm plans to create video that will 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.”

Take a wander over to theSkimm, poke around a bit. It’s a great read… and video’s on the way.

Stay tuned.

Follow me on Twitter @JimONeillMedia and on LinkedIn

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