The left-leaning news media company The Young Turks–known for their online videos–has raised $20 million in a new funding round, reports the Wall Street Journal. The money will be used to beef up its team and expand marketing initiatives, the company said in a statement.
In 2015, TYT raised $4.25 million, so this latest infusion is quite a step up. Sites like it, which provide programming for people not in the political center, are seeing a marked increase in interest it seems. Earlier this year TYT raised $2 million via crowdfunding to beef up its investigative reporting efforts. The Journal adds that audience and subscriptions have been booming.
With this, investors seem to be warming up to the idea of these sorts of companies making the big bucks.CGW