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Photo via Cheddar

Cheddar, the streaming video network dubbed the "CNBC for millennials" is launching its own business-focused news channel for Snapchat Discover.

Why it matters: It's the latest addition to the two-year-old video company's growing portfolio of digital distribution partners. In the past two weeks, Cheddar has launched new distribution partnerships with Snapchat, YouTube TV, Hulu, Altice, and the news section of The Roku Channel.

  • Cheddar will release a new "Publisher Story" on Snapchat Discover every morning at 6 a.m. ET. It will focus its coverage on personal finance, career news, innovative business news, and cryptocurrency.
  • "I think our partnership with Snap and being on their platform is a BIG part of us building the #1 financial/business news brand for centennials," says CEO and founder Jon Steinberg. "It is WHERE that audience lives."

The bigger picture: As one of the first full-time digital streaming news networks, Cheddar's business model is to expand its distribution as quickly as possible to build its brand while it remains ahead in the space. Many legacy and digital-first text-based news outlets are now racing to catch up and building live shows on social media or on-demand shows for streaming networks.

Our thought bubble: As Axios noted previously, while Cheddar's exact audience numbers are unknown, it's hoping a wide array of video distribution partners will help broaden its reach amongst younger generations that are "cutting the cord," or ditching their cable packages for cheaper, digital bundles.

Go deeper

DOJ cites discrimination in lawsuit against Texas over voting districts

Attorney General Merrick Garland. Photo: Alex Wong/Getty Images

The Department of Justice on Monday filed a lawsuit against Texas, alleging Republican state lawmakers discriminated against Black and Latino voters and has "again diluted the voting strength of minority Texans" when they approved new redistricting maps.

Why it matters: A DOJ assessment of the new districts found that they violate Section 2 of the Voting Rights Act, Attorney General Merrick Garland said at a press conference.

3 hours ago - World

Biden to warn Putin U.S. will add troops in Eastern Europe if Russia invades Ukraine

Putin meets Biden in Geneva. Photo: Peter Klaunzer - Pool/Keystone via Getty

President Biden will warn Russian President Vladimir Putin when they speak on Tuesday that if Russia invades Ukraine, the U.S. is prepared to increase its troop presence, capabilities and military exercises on NATO's "eastern flank," a senior administration official told reporters.

Why it matters: The administration believes it's increasingly likely that Putin will order an invasion.

4 hours ago - World

U.S. announces diplomatic boycott of Beijing Winter Olympics

An Olympic-themed sculpture in Beijing on Dec. 1. Photo: Hou Yu/China News Service via Getty Images

The U.S. announced Monday that it will not send officials to the 2022 Beijing Winter Olympics in protest of human rights abuses committed by the Chinese Communist Party.

Why it matters: The diplomatic boycott — which won't prevent American athletes from competing — marks a major escalation between the U.S. and China amid already heightened tensions over the CCP's treatment of Muslim minorities, military threats to Taiwan and economic tariffs.