Next Big News, a digital news and information company, is raising $6.5 million from investors including Y Combinator, Y Combs founder Reid Hoffman and venture capital firm Kleiner Perkins Caufield & Byers.
The round will be used to build the company’s technology and services.
The fund also will give Next Big Vision, a non-profit and non-digital news and media organization, a $1 million Series A. Next Big Digital is a platform to curate, publish, distribute and monetize news and entertainment.
The platform will be able to offer content to its users on social media platforms, and on-demand.
The company will focus on two main areas: curating and monetizing news and content, and expanding its services to include video, interactive, video apps, and social media.
“This is a great investment for Next Big,” said Next Big, which is owned by Hoffman, Hoffman Ventures and the Y Combbs founder.
“We’ve had some amazing partners, and we’re really excited about working with such a world-class team.
They’re bringing the next generation of journalism to audiences and making the world a better place through their platforms.””
We are truly thrilled to be part of the Next Big Generation and to be the first to offer a digital content platform to our readers,” said David Cote, Next Big Ventures President and Chief Executive Officer.
“Next Big Vision has been on a mission to democratize the news industry, and this funding will enable us to continue to expand and enhance our content platform, both now and in the future.”
In addition to Next Big and its existing media operations, Next BNG will also be acquiring a publishing and publishing-related assets from news outlet WNYC.
Next Bng will use these assets to create a platform that provides a wide range of content including content from news outlets including The New York Times, The Associated Press, USA Today, Wall Street Journal, USA TODAY, Time, Newsweek, Business Insider, BusinessWeek, USA Network, USA and MSNBC, and podcasts.
The company will also focus on developing and expanding a new publishing and distribution platform that will include content from the next wave of publications, including USA Today.
This is the second round of funding for Next BNV.
In March, Next BIG also raised a $2 million Series B from Sequoia Capital and Andreessen Horowitz.
The investment will allow Next BND to further grow and expand its digital and print-only business.