Photo by Ryan Young via Getty Images

Cheddar, an online video network for business and tech news, has raised $22 million in new funding at what Axios is told is a $140 million pre-money valuation. It previously raised last May at a $64 million pre-money valuation.

Why it matters: Cheddar claims that 20% of Americans between 18 and 24 is aware of its brand — with 13% of that cohort having viewed Cheddar content — in an age when traditional news broadcasters are struggling to connect with younger viewers.

Existing investor Raine Ventures led the round, and was joined by Liberty Global, Goldman Sachs, Antenna Group, 7 Global Capital, and Dentsu Ventures. Other participating insiders included Lightspeed Venture Partners, Comcast Ventures, AT&T, The New York Stock Exchange, Ribbit Capital, Amazon and Altice USA.

The inclusion of firms like Japan-based Dentsu could be important to the New York-based company's international expansion plans.

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Updated 2 hours ago - World

Pandemic plunges U.K. into "largest recession on record"

The scene near the Royal Exchange and the Bank of England in the City of London, England. Photo: Tolga Akmen/AFP via Getty Images

The United Kingdom slumped into recession as its gross domestic product GDP shrank 20.4% compared with the first three months of the year, the Office of National Statistics (ONS) confirmed Wednesday.

Why it matters: Per an ONS statement, "It is clear that the U.K. is in the largest recession on record." The U.K. has faired worse than any other major European economy from coronavirus lockdowns, Bloomberg notes. And finance minister Rishi Sunak warns the situation is likely to worsen.

Updated 2 hours ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

The United Kingdom slumped into recession on Wednesday, as its gross domestic product GDP shrank 20.4% compared with the first three months of the year.

By the numbers: Over 741,400 people have died of the novel coronavirus globally and more than 20.2 million have tested positive, per Johns Hopkins. Almost 12.6 million have recovered from the virus.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 20,294,091 — Total deaths: 741,420— Total recoveries: 12,591,454Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 5,141,207 — Total deaths: 164,537 — Total recoveries: 1,714,960 — Total tests: 63,252,257Map.
  3. States: Georgia reports 137 coronavirus deaths, setting new daily record Florida reports another daily record for deaths.
  4. Health care: Trump administration buys 100 million doses of Moderna's coronavirus vaccine.
  5. Business: Moderna reveals it may not hold patent rights for vaccine.
  6. Sports: Big Ten scraps fall football season.
  7. World: Anthony Fauci "seriously" doubts Russia's coronavirus vaccine is safe