Ordinarily I wouldn’t be especially interested in today’s news about a $1.1M seed round investment in Skift, a business travel information site. But I thought differently when I saw the list of media biggies backing the young enterprise from Paid Content founder Rafat Ali. Lerer Ventures — the investment firm created by Huffington Post co-founder and former AOL Time Warner EVP Ken Lerer — led the latest financing effort. Other new backers include Shari Redstone‘s Advancit Capital. New angel investors include Martin Nisenholz (former New York Times SVP digital operations) and Paul Noglows (former Variety reporter-turned-analyst/investor). Current investors include Chris Ahearn, former president of Reuters Media; Gordon Crovitz, former publisher of the Wall Street Journal; Tom Glocer, former CEO of Thomson Reuters; and Jason Hirschhorn, former co-president of MySpace. With the new investment, Skift will have raised more than $1.5M, with plans to double its staff to produce news and services for business travelers. “At a time when investors are leery of both travel companies and content companies, Rafat and the Skift team have created a model that’s immediately viable and valuable,” says Lerer Ventures Managing director Eric Hippeau.
Shari Redstone Teams With Media Elite Backing Travel Information Site
What's Hot on Deadline
'Alice' Sees $65M In Offshore Looking Glass; 'Warcraft' Scores $31.6M; 'X-Men' Cumes $186M - Intl Box Office
Moviegoers Turn Out For The 'Apocalypse' Over Memorial Day & Chop Off 'Alice's Head - Sunday AM Update
'The Carmichael Show' Star On Tonight's Donald Trump Fueled Finale, Bill Cosby's Trial, Season 3 & "Big Picture" NBC
Latest Business News
- Indie Producers Say They're Getting Shortchanged By California's Tax Incentives Program
- ‘American Psycho’ Will Close On Broadway Before The Tony Awards At $8.8M Loss
- Viacom’s Battle With Sumner Redstone Could Hurt Credit, S&P Says
- Court Sets June Date For Philippe Dauman’s Case Against Sumner Redstone
- Lionsgate Joins Fox, Par & Uni In Nixing Exhibitor Clearance Requests: What Does This Mean For The Biz?
- Viacom Renews And Expands Carriage Deal With Cox Communications