TheSkimm raises $12 million for its snarky newsletters

Seven million women (and men) love TheSkimm. 

With its daily newsletters designed to keep you in the loop on the latest news and pop culture, TheSkimm has developed a loyal following, and even recruits fans called “Skimm’bassadors” to help spread the word.

That word-of-mouth hype is helping and the startup has seen enough growth to warrant more funding. TheSkimm is announcing a $12 million round led by GV (Google Ventures), with participation from Spanx founder Sara Blakely as well as existing investors like RRE Ventures and Homebrew.

Co-founded in 2012 in New York by former TV news producers Carly Zakin and Danielle Weisberg, the company has expanded beyond its newsletters targeting millennial women and offers subscription products, too. TheSkimm’s app includes a calendar of upcoming news and televised events. It also has podcasts and an e-commerce business.

Revenue is said to have more than doubled year over year since 2016, partly due to the subscriptions, but also due to native advertising and affiliate licensing. The staff has doubled as well and recently moved into a new headquarters.

The latest funding, which adds to the over $16 million already raised, will be used to add more subscription services and also further expand into video and podcasting.

TheSkimm also has plans for data analysis.

 

Post by startupsnows.blogspot.com