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Medium Raises $57M, Will Hold Event On October 7 To Announce New Features And Partnerships

At present, publishing platform Medium introduced that it has introduced in $ 57 million in new capital in a collection B led by new investor Andreessen Horowitz. That makes the whole raised for Ev Williams’ Medium a hefty sum of $ 82 million.

From head of operations at Medium, Andy Doyle:

We’re happy to announce that Medium just lately raised $ 57 million in capital. The spherical was led by new associate Andreessen Horowitz with vital participation from Google Ventures and Greylock Companions, who additionally led our Collection A. We’re additionally lucky to rely Apparent Ventures, The Chernin Group, and quite a few our Collection A angels as buyers this spherical. And, in fact, Ev, who based Medium and stays our majority shareholder. This funding strengthens Medium for the foreseeable future and permits us to proceed, heads down, operating onerous to completely understand our imaginative and prescient.

Doyle says the cash will go to creating Medium “the dominant pipeline for connecting high quality content material and dialog,” which is fairly broad. Medium has toyed round with a couple of fashions, together with hiring its personal journalists and beginning its personal mini-publications. No prime-tier publication has up and moved to Medium, although, however that would change with every part new that’s occurring within the area because of Fb and maybe Google.

This isn’t Ev’s first rodeo in publishing, having bought Blogger, by means of Pyra Labs, to Google in 2003. It’s additionally one other massive win for the #TwitterMafia, with Jack Dorsey rumored to be taking Sq. public by the top of the yr.

The corporate says that it is going to be holding an occasion on October 7 to announce new features and partnerships.

Source : TechCrunch

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