Nov 28, 2017

Group Nine raises $40 million in round led by Discovery

Group Nine

Group Nine Media has raised $40 million in its latest round of funding. The company, which houses several digital-first lifestyle media brands, like The Dodo, NowThis, Thrillist and Seeker, is also receiving investments from Axel Springer SE and Lerer Hippeau. In a statement, the company says that the additional funds will be used for expanding video content across its brands as well as for selected acquisitions.

Why it matters: It's a vote of confidence from Discovery, one of the largest lifestyle entertainment brands in television, in a company that's strategy is focused on scaling digital video, an area that's become increasingly saturated over the past several years.

Many digital-first media companies are facing tough economic challenges due to Google and Facebook's scale. Many of these companies rely on digital platforms to distribute their content, and are finding that video has become a lucrative way to engage younger audiences that are migrating from long text.

Note: Lerer Hippeau Ventures is an investor in Axios.

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World coronavirus updates

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

There are no COVID-19 patients in hospital in New Zealand, which reported just 21 active cases after days of zero new infections. A top NZ health official said Tuesday he's "confident we have broken the chain of domestic transmission."

By the numbers: Almost 5.5 million people have tested positive for the novel coronavirus as of Tuesday, and more than 2.2 million have recovered. The U.S. has reported the most cases in the world (over 1.6 million from 14.9 million tests).

U.S. coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios. This graphic includes "probable deaths" that New York City began reporting on April 14.

Coronavirus antibody tests are still relatively unreliable, and it's unclear if people who get the virus are immune to getting it again, the Centers for Disease Control and Prevention cautioned on Tuesday.

By the numbers: More than 98,900 people have died from COVID-19 and over 1.6 million have tested positive in the U.S. Over 384,900 Americans have recovered and more than 14.9 million tests have been conducted.

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 5,588,299 — Total deaths: 350,417 — Total recoveries — 2,286,827Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m. ET: 1,680,625 — Total deaths: 98,902 — Total recoveries: 384,902 — Total tested: 14,907,041Map.
  3. Federal response: DOJ investigates meatpacking industry over soaring beef pricesMike Pence's press secretary returns to work.
  4. Congress: House Republicans to sue Nancy Pelosi in effort to block proxy voting.
  5. Business: How the new workplace could leave parents behind.
  6. Tech: Twitter fact-checks Trump's tweets about mail-in voting for first timeGoogle to open offices July 6 for 10% of workers.
  7. Public health: Coronavirus antibodies could give "short-term immunity," CDC says, but more data is neededCDC releases guidance on when you can be around others after contracting the virus.
  8. What should I do? When you can be around others after contracting the coronavirus — Traveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 1 hour ago - Politics & Policy