Snapchat Grabs $500 Million from NBC Universal at IPO
NBC Universal invested $500 million in Snap Inc. as the social-media company went public this week. According to NBCU CEO Steve Burke "This is a significant milestone in our growing partnership with Snap, and we look forward to participating in Snap's success as an investor and continuing to work closely with them for years to come."
Click to listen to story:
NBCU has been investing in digital media companies. So far, the Comcast-owned media giant has invested $400 million in Buzzfeed and $200 million in Vox. It also recently acquired SportsEngine, a digital business that manages youth sports online and through its acquisition of DreamWorks, NBCU became a majority owner of Awesomeness TV.
For digital marketers and content producers the play is obvious. Keep cranking out content, building relationships and audience development. Burke added its investment in Snap build on the company's "strategy to drive digital growth for our business, both organically and through investments and acquisitions."