Vice Media further $500m funding
September 4, 2014
Vice Media has secured a further $500 million in financing from two more minority investors, in part to fund “thousands of hours” of new video content for online, mobile and TV.
The youth digital media brand said that the new investment, $250 million each from Silicon Valley firm Technology Crossover Ventures and US cable broadcaster A+E Networks, valued the company at more than $2.5 billion.
Vice said it remained independently controlled and operated by its senior management, led by co-founder and chief executive Shane Smith.
“We believe that these new partnerships position us at the forefront of the coming convergence of media and technology, while preserving and protecting our independence,” Smith said.