Good news for millennials: They have at least another few years of news tailored just for them! Axios reports that millennial-focused digital news network Mic has raised $6.5 million from advertising agency WPP as part of its Series C. As of now, the round of funding is at $28.4 million.
This cash infusion, says Axios, will probably be used to fuel Mic‘s branded content arm to help the company grow. Mic has expanded over the last year and launched new verticals, including such fun names as “Slay,” “Strut,” and “The Future Is Now.”
As other media companies struggle to keep business afloat—look no further than Time Inc. and Vocativ—buzzier brands like Mic, Refinery 29, and BuzzFeed (which is finally supposedly close to IPOing) are trying to raise money now and use that to figure out a future sustainable business model. Perhaps millennials and Snapchat content holds the key. Who knows!CGW