The text of the Dentsu Inc. news release distributed on March 27 is as follows.
March 27, 2018
Dentsu Inc. Ventures, a venture fund managed by Dentsu Inc., invests in U.S.-based Cheddar, Inc., which produces, distributes, and operates news videos to meet modern viewer needs
Dentsu Ventures 1 Global Fund (hereinafter "Dentsu Ventures"), a corporate venture capital fund managed by Dentsu Inc. (Headquarters: Minato-ku, Tokyo; President and CEO: Toshihiro Yamamoto), has invested in the U.S. news network Cheddar Inc. (Headquarters: New York City; CEO: Jonathan Steinberg; hereinafter "Cheddar").
Cheddar currently owns studios in four locations across the United States. It produces business news content covering innovative products, services, and technologies, delivering it to viewers through diverse video distribution platforms and social media channels.
Since its founding in 2016, the company has rapidly gained viewers through a wide range of distribution channels while achieving exceptionally high viewer engagement.
Going forward, Dentsu Inc. Ventures will support Cheddar's business growth by further expanding its distribution channels and promoting collaborations with client companies.
Overviews of Cheddar and Dentsu Inc. Ventures are as follows.
＜Cheddar Inc. Overview＞
Company Name: Cheddar Inc.
Headquarters: New York City, New York, USA
Date Established: January 6, 2016
Representative:
Jonathan Steinberg
Founder, Chief Executive Officer & Board Member
Business Activities: Production, distribution, and operation of a news network
URL:https://cheddar.com/
<DENTSU Ventures Overview>
Name: Dentsu Ventures Global Fund I
Total Fund Size: ¥10 billion
Fund Formation Date: April 2015
Operating Period: Planned for 10 years until March 2025
Investment Regions: Global investments including the U.S., Europe, Japan, and Asia
Investment Stage: Primarily seed/early stage, while also including mid/late stage for a broad, balanced portfolio
Investment Areas:
(1) Areas with the potential to transform the broader marketing/communications business
(2) Innovative, high-potential new domains, even if not fitting the above
URL:http://dentsu-v.com/
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