Mashable raises $13 million to launch expansion effort
By Brian Stelter, CNN
Nearly a decade into its existence, the news Web site Mashable is taking on outside investors for the first time.
The site plans to announce on Monday that it has raised $13.3 million in an equity investment round led by Updata Partners. The investment will fuel an expansion plan that entails new areas of coverage and the opening of more offices.
By raising millions of dollars, Mashable is joining a number of startups that are building 21st century news brands with the support of outside investors. Among those brands: Vox Media, BuzzFeed and Business Insider.
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Brian Stelter is the host of "Reliable Sources" and the senior media correspondent for CNN Worldwide. Before he joined CNN in November 2013, Stelter was a media reporter for The New York Times. He is the author of the New York Times best-seller "Top of the Morning."
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