Axel Springer Digital Ventures has increased its share in the New York social video news publisher NowThis Media as part of a financing round and has become its second largest investor. The New York-based start-up primarily addresses the target group of 18-34 year-olds, producing short videos about trending stories, designed for mobile devices and distribution across social networks. The new round of financing was led by Axel Springer Digital Ventures. NowThis Media has received a total of 16 million US dollars from investors in this round.
Axel Springer Digital Ventures first acquired a stake in NowThis Media in December 2014. Oak Investment Partners remains the largest investor after the new round of financing. Other investors include: Lerer Hippeau Ventures, Bedrocket Media Ventures, NBC and SoftBank Capital.
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