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Peter Chernin Invests in MiTu

iNews Hollywood

Peter Chernin: 16 projects sold

The online network targeting Latinos raises $3 million.

The Chernin Group and Advancit Capital, an investment vehicle co-founded by ShariRedstone, said Wednesday that they have invested in MiTu, a company that operates 350 YouTube channels targeting Latino audiences.

Also participating in the firm’s initial funding round, which raised $3 million, was CODE Advisors, Machinima CEO Allen DeBevoise and Juan Cristobal Ferrer of advertising firm Ferrer Comunicacion.

The Chernin Group, founded by Peter Chernin, also said Wendesday that TCG president Jesse Jacobs will be joining the MiTu board of directors.

STORY: Peter Chernin Joins Twitter Board

MiTu launched seven months ago. Its online networks in North America, Latin America, Europe and Asia have accumulated 800 million views across a subscriber base of 2.3 million.

"The MiTue opportunity combines two powerful trends: one, the Latilno audience is one of the fastest-growing and youngest demographics in the world, and two, YouTube…

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About Nicholas Maithya

I am a writer focussing on disruptive technology, Fintech, Big Data and Internet of Things, Online Marketing trends, and investments. When I am not writing about these, I am probably in the gym working out, out and about with family, watching the news (basically business/technology) or soccer. That's why I do sometimes cover soccer-related stories.


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