Watchup, the video news aggregator, announced that it has received additional funding today. $2.75 million to be exact, from Tribune Media and McClatchy.
Founder Adriano Faranno said in a statement that:
We are so excited about this round because we have brought together a select group of media innovators who are willing to contribute their industry knowledge and their content to help us reinvent the video news experience.Advertisement
Watchup is trying to change the way people watch mobile news. A lot of their videos come from public sources but they keep adding partnerships with leading news organizations to their roster: WaPo, PBS NewsHour, Univision, among others. Joseph Lichterman at Niemen Lab rightly places this investment in context with other big media companies investing in new video technology:
This round marks the latest in a series of investments legacy news organizations are making in news startups. In September, Vice Media received $500 million in funding, including $250 million from A&E Networks, which is owned by Hearst and Disney. Last month, The New York Times Co. and German publishing behemoth Axel Springer said they were investing $3.7 million into Blendle, a Dutch news reading platform where readers pay by the article.