Vice Takes $450M in Funding, Plans Massive Millennial Library
The youth-focused network 副媒体 announced it has taken $450 million in funding from TPG, a private equity firm. Vice will use the money to create Vice Studios, which will focus on creating 脚本 original video programming and other content.
In two previous funding rounds led by 21st Century Fox, + E网络, 和迪士尼, Vice took in $400 million.
Scripted programming is a rarity at Vice, which typically offers news reports and un脚本 reality shows. 在 company's newfront presentation this year, it announced its first 脚本 show—What Would Diplo Do?, in which actor James Van Der Beek plays the 音乐ian and DJ.
“This will allow us to: build up the largest millennial video library in the world—enabling Vice to widen our offering to include news, 食物, 音乐, 时尚, 艺术, 旅行, 游戏, 生活方式, 脚本, 还有故事片,” company CEO Shane Smith said in a written statement. Vice also plans to expand its multi-platform programming into 80 territories by the first qu艺术er of next year.
Experts say Vice is paving the way to a public offering, with Shane himself noting the studio is meant to show investors that his company has a revenue strategy so it doesn’t need to rely has heavily on advertising.
Thanks to the new funding, Vice has a $5.7 billion valuation, notes Smith.
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