Latest news with #AndreessenHorowitz
Yahoo
17 hours ago
- Business
- Yahoo
Blackstone drops out of group seeking stake in US-based TikTok
(Bloomberg) — Private equity firm Blackstone Inc (BX) has pulled out of a group of investors seeking to take a minority stake in TikTok's US-based business, according to a person familiar with the matter. The Dutch Intersection Is Coming to Save Your Life Mumbai Facelift Is Inspired by 200-Year-Old New York Blueprint How San Jose's Mayor Is Working to Build an AI Capital Milan Corruption Probe Casts Shadow Over City's Property Boom LA Homelessness Drops for Second Year Blackstone has ceded its potential stake in TikTok's US operations to the other investors in a consortium that includes Oracle Corp., venture capital firm Andreessen Horowitz and growth equity investment firm General Atlantic, said the person, who asked not to be named while discussing private conversations. President Donald Trump in late June said he'd identified a buyer that would allow the popular social media app to legally continue operating in the US, splitting it off from Chinese parent company ByteDance Ltd. Bloomberg News later reported that Trump's proposed buyer was the same consortium that included Blackstone. The Trump administration had recently issued another 90-day extension to work out the deal. That extension expires in mid-September. Reuters reported details of Blackstone's withdrawal from the consortium earlier on Friday. A Rebel Army Is Building a Rare-Earth Empire on China's Border What the Tough Job Market for New College Grads Says About the Economy How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All Godzilla Conquered Japan. Now Its Owner Plots a Global Takeover Why Access to Running Water Is a Luxury in Wealthy US Cities ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
a day ago
- Business
- Bloomberg
Blackstone Drops Out of Group Seeking Stake in US-Based TikTok
Private equity firm Blackstone Inc. has pulled out of a group of investors seeking to take a minority stake in TikTok's US-based business, according to a person familiar with the matter. Blackstone has ceded its potential stake in TikTok's US operations to the other investors in a consortium that includes Oracle Corp., venture capital firm Andreessen Horowitz and growth equity investment firm General Atlantic, said the person, who asked not to be named while discussing private conversations.
Yahoo
2 days ago
- Business
- Yahoo
Newsletter platform Substack valued at $1.1 billion in latest funding round
(Reuters) -Substack has raised $100 million in a funding round led by venture capital firms Bond and the Chernin Group at a valuation of $1.1 billion, the newsletter platform said on Thursday. The series C funding round also saw participation from existing investor Andreessen Horowitz, as well as Rich Paul, CEO and founder of Klutch Sports Group and Jens Grede, CEO and co-founder of SKIMS. The funding comes four months after the San Francisco-based company said it had more than 5 million paid subscriptions on the platform, up from 4 million paid subscriptions in November last year. The company, which has raised $200 million in total since its founding in 2017, is a leading platform for writers, journalists and creators to publish and monetize newsletters, podcasts and other digital content directly to subscribers. Users are increasingly turning to newsletter platforms such as Substack and Ghost amid growing digitization, as they offer creators greater control by delivering content directly to subscribers. Such content distribution often bypass traditional social media algorithms providing better user-targeting. "We're doubling down on the Substack app, which is designed to help audiences reclaim their attention and connect with the creators they care about," Substack co-founders said in a blog post. As part of the funding, Bond general partner Mood Rowghani will join Substack's board of directors, the company said. Sign in to access your portfolio
Reuters
2 days ago
- Business
- Reuters
Newsletter platform Substack valued at $1.1 billion in latest funding round
July 17 (Reuters) - Substack has raised $100 million in a funding round led by venture capital firms Bond and the Chernin Group at a valuation of $1.1 billion, the newsletter platform said on Thursday. The series C funding round also saw participation from existing investor Andreessen Horowitz, as well as Rich Paul, CEO and founder of Klutch Sports Group and Jens Grede, CEO and co-founder of SKIMS. The funding comes four months after the San Francisco-based company said it had more than 5 million paid subscriptions on the platform, up from 4 million paid subscriptions in November last year. The company, which has raised $200 million in total since its founding in 2017, is a leading platform for writers, journalists and creators to publish and monetize newsletters, podcasts and other digital content directly to subscribers. Users are increasingly turning to newsletter platforms such as Substack and Ghost amid growing digitization, as they offer creators greater control by delivering content directly to subscribers. Such content distribution often bypass traditional social media algorithms providing better user-targeting. "We're doubling down on the Substack app, which is designed to help audiences reclaim their attention and connect with the creators they care about," Substack co-founders said in a blog post. As part of the funding, Bond general partner Mood Rowghani will join Substack's board of directors, the company said.
Bloomberg
3 days ago
- Business
- Bloomberg
Substack Raises $100 Million at $1.1 Billion Valuation
Substack, the newsletter platform for independent writers, has raised $100 million to invest in better tools, broader reach and more support for creators on the site. Investors were led by technology investment firm BOND and the Chernin Group, the company announced Thursday. Andreessen Horowitz, Klutch Sports Group founder Rich Paul and Skims Body Inc. co-founder Jens Grede also participated in the round, which values the company at $1.1 billion.
