Jun 19, 2017

Vice lands $450 million in funding ahead of potential IPO

Vince Bucci/Invision for the Television Academy/AP Images

Vice Media has raised $450 million in new funding from private equity firm TPG Capital, which brings its valuation to $5.7 billion. Noticeably missing from this round's contribution was Walt Disney Co., which invested $400 million into the company two years ago for what was then an 18% stake (which will likely be diluted).

Why it matters: CEO Shane Smith told CNBC that the investment will help Vice build up "the largest millennial video library in the world," while also expanding its content options for its cable, mobile and digital platforms to include "news, food, music, fashion, art, travel, gaming, lifestyle, scripted and feature films." The company also continues to flirt with the idea of an IPO.

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Ina Fried

51 mins ago - Technology

TikTok to pull out of Hong Kong

Illustration: Aïda Amer/Axios

TikTok said Monday night that it would pull its social video platform out of the Google and Apple app stores in Hong Kong amid a restrictive new law that went into effect last week.

Why it matters: TikTok's move comes as many large tech companies say they are still evaluating how to respond to the Hong Kong law.

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Dave Lawler

3 hours ago - World

Ethiopia's Nobel Peace laureate cracks down on ethnic violence

The image of a Nobel Peace laureate in military fatigues encapsulates the moment in which Ethiopia finds itself — on the verge of a transition to democracy, a descent into violence or, perhaps, a precarious combination of the two.

Driving the news: At least 166 people were killed after an iconic musician, Haacaaluu Hundeessaa, was murdered last Monday in Addis Ababa, the capital. Prime Minister Abiy Ahmed responded to the violence by sending in troops and shutting off the internet. High-profile opposition leaders were arrested, along with some 2,300 others.

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Orion Rummler

Updated 5 hours ago - Health

Atlanta Mayor Keisha Lance Bottoms tests positive for coronavirus

Atlanta Mayor Keisha Lance Bottoms said on Monday that she has tested positive for the coronavirus after displaying no symptoms.

Why it matters: Bottoms, one of several Black women on the shortlist to be Joe Biden's running mate, has risen to national prominence in recent months as part of mass protests over racism and police brutality — driven in part by the killing of Rayshard Brooks by Atlanta police.