Fox’s $8 Million Dollar Investment in TheSkimm

June 7, 2016

The popular newsletter the Daily Skimm, a newsletter that offers readers a quick way to stay on top of world affairs and pop culture, is expanding its brand to videos. theSkimm will ultimately be a studio for producing original videos. This innovative media move has grabbed the attention of 21st Century Fox, who just recently led an $8 million investment in theSkimm. “We used the newsletter to create this large community of scale, telling them what they need to know”, said Co-Founder Danielle Weisberg in an interview with Advertising Age. “For the first three years, that’s where we focused, becoming the fastest growing email newsletter the audience into other products and different revenue streams they enjoy.” Fox joined previous investors RRE Ventures, Greycoft Partners, and Homebrew in this opportunity. With more than 3.5 million people subscribed to the Daily Skimm, Fox and other powerhouse companies seized on this early investment to theSkimm’s growing media enterprise. Probably one of the best qualities of theSkimm is its unique story. Two college friends met in Italy while studying abroad and bonded over their passion for storytelling. Years later, life would have them as producers for NBC News working as journalists in breaking & political news and documentaries. The idea of generating a newsletter for a source-on-the-go happened over realizing that our society moves quickly. Developing a newsletter that adheres to that demand was one challenge, now making an impact in the digital arena is another. But with 21st Century Fox in their corner, we have a feeling theSkimm will be just fine!

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