Los Angeles, December 12, 2012 – MiTú, the leading multi-channel YouTube network exclusively dedicated to Latino content, announced today that it has closed financing, led by The Chernin Group LLC (TCG). Co-investors in the funding round include Allen DeBevoise, Chairman, CEO and co-founder of Machinima; Juan Cristóbal Ferrer of Ferrer Comunicación, a Mexico City-based advertising agency; Advancit Capital, a venture capital firm founded by Shari Redstone and Jason Ostheimer; and CODE Advisors. TCG will join MiTu’s board of directors.
Founded and led by Latino TV industry veterans Doug Greiff, Beatriz Acevedo, and Roy Burstin and headquartered in Los Angeles, MiTú partners with talented Latino content creators to launch and grow their English and Spanish-language channels on YouTube, expand their audiences, scale their production, and connect them with the global marketplace. With a brand that represents a content experience focused on a young and growing global Latino audience, the MiTú Network today is principally focused on lifestyle content verticals including beauty, fashion, health, food, home and pop culture.
Since MiTú’s launch seven months ago, the network now features more than 350 channels from North America, Latin America, Europe and Asia, and has accumulated more than 800 million total network views across a subscriber base exceeding 2.3 million. Proceeds from this investment will be used to expand MiTú’s US, Mexico and Colombia channel recruiting, partnerships, and monetization teams.
Strategic Law Partners LLP provided legal counsel to TCG. Gunderson Dettmer provided legal counsel to MiTu.