Brooklyn based millennial focused media Juggernaut Vice Media’s valuation just keeps climbing and climbing as more and more deep pocketed investors want a piece. The latest to carve off a piece via a $450 million investment is private equity firm TPG which puts Vice’s valuation at a reported $5.7 billion. Vice plans to use the new funds to build what CEO Shane Smith says will be the biggest millennial video library in the world. The company also plans to spend some money building out its subscription services. Smith also continues to tease a potential Vice IPO but won’t say whether or not an IPO is in fact in the works.
Said Shane Smith:
“This will allow us to build up the largest Millennial video library in the world — enabling Vice to widen our offering to include news, food, music, fashion, art, travel, gaming, lifestyle, scripted and feature films. Building out this wide-ranging and rich library of gold standard content will be an essential component of our future Direct to Consumer tech stacks and our innovations in transactional relationships — all of which represent the future of media.”
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