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mic.com

Mic, the digital brand aimed at creating authentic content for millennials, has raised $6.5 from WPP, one of the world's largest advertising agencies, as a part of its latest Series C round funding.

The investment brings Mic's total Series C round to $28.4 million, including prior investments from Lightspeed Venture Partners, Time Warner Investments, kyu Collective and You & Mr. Jones. All together, it has raised over $60 million.

Why it matters: The additional dollars will likely go towards beefing up Mic's branded content offerings — sponsored ads that the site produces and distributes for some of WPP's largest clients. For WPP, this is another strategic investment in digital. The holding company has been investing in digital startups for years — from Refinery 29 to comScore to Vice — in an effort to drive digital dollars, which now account for nearly 40% of its total revenue.

Go deeper

Caitlin Owens, author of Vitals
4 hours ago - Health

Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan

Photo: Alex Wong/Getty Images

President-elect Joe Biden has picked former FDA chief David Kessler to lead Operation Warp Speed, a day after unveiling a nearly $2 trillion pandemic relief plan that includes $400 billion for directly combatting the virus.

Why it matters: Biden's transition team said Kessler has been advising the president-elect since the beginning of the pandemic, and hopes his involvement will help accelerate vaccination, the New York Times reports. Operation Warp Speed's current director, Moncef Slaoui, will stay on as a consultant.

The case of the missing relief money

Illustration: Sarah Grillo/Axios

A chunk of stimulus payments is missing in action, thanks to a mix up that put as many as 13 million checks into invalid bank accounts.

Why it matters: The IRS (by law) was supposed to get all payments out by Friday. Now the onus could shift to Americans to claim the money on their tax refund — further delaying relief to struggling, lower-income Americans.

The post-Trump GOP, gutted

McConnell (L), McCarthy (R) and Trump. Photo: Erin Schaff-Pool/Getty Images

Republicans will emerge from the Trump era gutted financially, institutionally and structurally.

The big picture: The losses are stark and substantial.