Categories: OLD Media Moves

Cheddar has raised $19 million in funding

Financial news video network Cheddar has raised $19 million in private equity funding, reports Todd Spangler of Variety.

Spangler reports that the funding was “led by Raine Ventures, along with strategic investors including AT&T, Amazon, Altice USA, the New York Stock Exchange, and Lorne Michaels’ Broadway Video.

“With this round, the New York-based company has raised $32.1 million to date, with a valuation of $85 million. Cheddar’s existing investors — Comcast Ventures, Lightspeed Venture Partners and Ribbit Capital — also participated in the Series C round. Gordon Rubenstein, managing partner of Raine Ventures, has joined Cheddar’s board.

“In addition to the funding, Cheddar announced that it has hired Ross Cooperman, formerly head of engineering at KnowMe Systems, as its first chief technology officer. COO Eric Harris has added the title of president, while chief content officer Peter Gorenstein has been elected to the company’s board of directors and Melissa Rosenthal has been promoted to executive VP (formerly SVP of creative development and partnerships). Cheddar was founded in 2016 by CEO Jon Steinberg, former president and COO of BuzzFeed.

“‘Cheddar has quickly established itself as a transformational, next generation multimedia company and we are excited to partner with Jon Steinberg and this talented team to catalyze their next stage of global growth,’ said Raine Ventures’ Rubenstein. Added NYSE president Tom Farley, ‘We are pleased to bring together leading influencers in business with innovators like Cheddar on the floor of the New York Stock Exchange.'”

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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.