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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.

Go deeper

Kendall Baker, author of Sports
2 hours ago - Sports

2021 Tokyo Olympics hang in the balance

Illustration: Aïda Amer/Axios

10 months ago, the Tokyo Olympics were postponed. Now, less than six months ahead of their new start date, the dreaded word is being murmured: "canceled."

Driving the news: The Japanese government has privately concluded that the Games will have to be called off, The Times reports (subscription), citing an unnamed senior government source.

Biden's centrist words, liberal actions

Illustration: Sarah Grillo/Axios

President Biden talks like a soothing centrist. He promises to govern like a soothing centrist. But early moves show that he is keeping his promise to advance a liberal agenda.

Why it matters: Never before has a president done more by executive fiat in such a short period of time than Biden. And those specific actions, coupled with a push for a more progressive slate of regulators and advisers, look more like the Biden of the Democratic primary than the unity-and-restraint Biden of the general election.

3 hours ago - Technology

Review of Trump ban marks major turning point for Facebook

Photo Illustration: Aïda Amer/Axios. Photo: Saul Loeb/AFP via Getty Images

Facebook's decision to ask its new independent Oversight Board to review the company's indefinite suspension of former President Trump is likely to set a critical precedent for how the social media giant handles political speech from world leaders.

What they're saying: "I very much hope and can expect … that they will uphold our decision," Facebook's VP of global affairs Nick Clegg tells Axios.