Considering that releasing in 2013, Taipei-based TNL Media Group has actually grown from an independent news website to a media company with several online publishing verticals and an information analytics service. Now the business, formerly called The News Lens, has actually raised $8 million from New York-based financial investment firm Palm Drive Capital, the lead financier in its ongoing Series D round.
TNL Media Group’s last financing statement was a Series C revealed 2 years earlier Co-founder and president Joey Chung told TechCrunch that its latest infusion of financing will be utilized to add more media verticals, continue TNL Media Group’s global expansion and finish its existing pipeline of information analytics and tech service products.
TNL Media Group’s previous investors include North Base Media, the firm co-founded by Washington Post and Wall Street Journal veteran Marcus Brauchli (who is likewise a member of the startup’s board). The News Lens launched seven years earlier as a bilingual website to offer millennial readers an alternative to conventional media outlets in Taiwan, where protection is typically dramatically divided along political lines and traffic is driven by star chatter and other tabloid fodder.
Considering That then, it has actually grown through a series of launches and acquisitions. In addition to its primary news website, it likewise runs different sites for tech, sports, lifestyle, gizmos and home entertainment material. Earlier this year, TNL Media Group gotten Taiwanese mobile ad innovation startup Ad2iction, a cloud-based platform for brands to manage and create digital advertisements.
Because TNL Media Group currently has workplaces in Taiwan and Hong Kong, and also has a media vertical dedicated to covering Southeast Asia, Chung said the company is now trying to find opportunities to expand there. At the very same time, he added that TNL Media Group has “had many extremely late-stage discussions” about collaborations to release in Japan.
The business’s media verticals match its data analytics company since it has the ability to draw on TNL Media Group’s user base for information, which Chung stated is “one of the biggest readership pools for digital audiences in the greater China market.”
On average, TNL Media Group’s sites have around 14 million month-to-month unique users. Its information analytics company, which launched within the previous year, presently has about 3 to five customers per month. “But obviously, we are planning for that to be increase significantly in the coming months and years, and that will slowly grow to become a really crucial part of our entire company portfolio,” Chung stated.
TNL Media Group’s other products include mobile ad tech, digital ticketing services, online occasions and online classes, and a content management system (CMS) it will start accrediting to other business.
Chung stated that by the end of this year, a number of these items will be incorporated with its readership and data to establish a demand-side platform (DSP, a tool that connects advertisement purchasers with publishers) and an information management platform that are already in production.
In a press statement about its investment in TNL Media Group, Palm Drive Capital handling partner Nick Hsu stated, “Palm Drive Capital concentrates on buying international innovation startups using software application to change standard markets. This appears in the media industry, particularly as Taiwan’s online ad expense has already reached over one billion U.S. dollars and is approximated to grow to 1.65 billion U.S. dollars by2021 Having actually known the TNL Media Group group for several years, we see huge capacity to utilize data to drive development, consolidation, and worldwide expansion in the media industry.”