The Hearst Corporation Posts

Dering Hall raises $2.5 million

Dering Hall Logo
Dering Hall is an online portal for home furnishings. The company has announced that it has raised $2.5 million in Series A funding. Investors that participated in this round include Hearst Magazines, Lerer Hippeau Ventures and SoftBank Capital. More details below:


NEW YORK, Feb. 4, 2015 /PRNewswire/ — Dering Hall, the online portal for high-end home furnishings, today announced that it has raised $2.5 million in Series A funding. Investors participating in the round include Hearst Magazines, Lerer Hippeau Ventures and SoftBank Capital. The new equity will support the continued expansion of the team and additional investment in technology. In addition, Dering Hall has acquired the assets of Detroit-based start-up Doodle Home, a B2B software platform specialized in the home and interior design industry.

Dering Hall’s first-of-its-kind platform for the luxury design industry presents established brands, emerging artisans, design galleries, designers, and architects all in one easy-to-navigate place. The site provides access to thousands of curated furnishings and design products with its marketplace model, empowering its community to reach new customers and clientele, grow their online presence, and gain entry to an e-commerce point of sale.

“Dering Hall fills the void that previously existed in the luxury design category online by providing a platform where the exceptional quality and talent in the industry meet in one place to market their work,” said Peter Sallick, CEO of Dering Hall. “This investment will enable us to further scale the business and expand our product and service offerings to reinforce the site as the premier online destination for high-end home design.”

The company plans to use the funding for new functionality to further optimize the curated online shopping experience for professionals and consumers, which will be supplemented by the acquisition of Doodle Home’s digital assets. Additionally, Dering Hall will leverage the investment to expand its organization and grow the presence of non-US brands on its site.

Jennifer Gilbert, Founder of Doodle Home, will join Dering Hall’s Board of Directors. “I am honored by the invitation to join Dering Hall’s Board of Directors, a seasoned group that continues to raise the bar in the luxury design industry,” said Gilbert. “I look forward to working with Peter Sallick and his management team to deliver on their vision. This is an exciting opportunity to contribute to Dering Hall’s strategic growth”

“We’ve been proud to partner with Dering Hall from the start. The transformation of all industries, and especially the design world, is sure to accelerate, and we expect Dering Hall to play a key role in broadening the demand for high end home furnishings,” said David Carey, President of Hearst Magazines.

Report: Roku is considering an IPO in the U.S. this year

Roku is a video streaming service that may be going public later this year, according to sources with Bloomberg. Roku makes set top boxes that connect TVs to the Internet.
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TV Device Company Roku Raises $60 Million

Roku is a digital TV entertainment company that has raised $60 million in funding led by Fidelity.  Hearst Corporation also participated in this round of funding.  Previous investors that participated in this round include BSkyB, News Corporation, and Dish Network.  Roku has raised a total of $130 million thus far.

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Hearst Has Around 800,000 Digital Subscribers Across Content Network

Hearst Corporation, the parent company of publications like Car & Driver, Cosmopolitan, Elle, and Car & Driver, claims to have around 800,000 paying digital subscribers.  These numbers were announced in a letter to employees at the company by Hearst President David Carey.  This figure includes monthly subscribers across all of their titles on iPads, Nooks, Androids, etc.  Mr. Carey claims that this figure is “the highest in the industry.”

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Next Issue Media Is The “Netflix For Digital Magazines”

Next Issue Logo
Even though the iPad has been around for two years, it has not made much of an impact on the digital magazine market. Digital magazines make up only 1% of the industry circulation total and the publishers know that this could be a problem. This is why Next Issue Media has announced an Android app, which encourages users to read more publications on their tablet. Next Issue is a joint venture between five magazine publishers: Conde Nast, Hearst, Meredeth, News Corp. and Time Inc.
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Hearst To Acquire Digital Ad Company iCrossing For $375 Million [Rumor]

Hearst Corporation is rumored to be buying digital ad company iCrossing for $375 million. iCrossing would earn additional bonuses if reaching certain targets. “While going through the process of evaluating iCrossing’s position in the market, we have spoken with, and entered into, non-disclosure agreements with many companies,” stated iCrossing spokesperson Dana Mellecker. Hearst is the parent company of 15 newspapers and 14 magazines. [Reuters]

What Is Brightcove Doing With A Total of $81.2 Million Funding?

Brightcove LogoThe return on investment made on YouTube’s funding through the acquisition definitely has whetted the appetite of investors. YouTube took in two rounds of funding from Sequoia Capital for a total of $11.5 million. So how come Brightcove, a lesser known Internet TV website is receiving such substantial funding? Brightcove started with $5.5 million and then received $16.2 million. Today, it was announced that Brightcove raised $59.5 million. This comes to a total of $81.2 million of total funding. The investors include Maverick Capital, The New York Times Company, Transcosmos Investments, Accel Partners, Allen & Company, America Online, General Catalyst Partners, The Hearst Corporation, IAC (InterActivCorp), and Brookside Capital.

“We think there’s a lot of opportunity outside the United States for Internet TV,” stated Adam Berrey, the VP President of Marketing of Brightcove. “We think this market will consolidate. It’s time for the leaders to emerge. This puts us in a good position.” Berrey didn’t mention what Brightcove is planning on doing for future plans, but according to TechCrunch, Brightcove did acquire metaStories on March 20, 2006. metaStories is a Seattle based company that has the tools that creates Flash content.

“Brightcove’s early success in partnering with media companies that are driving the transition of television and video distribution to the Internet puts the company in the right position as Internet TV takes off on a broader scale,” stated Jamie Kiggen, senior VP President of AllianceBernstein. “We’ve looked at many opportunities in this area and believe that Brightcove is well positioned for success in creating solutions that both media companies and consumers will embrace.”

With this new funding, Brightcove plans on growing the company and to provide Internet TV tools to media creators so that it would help them monetize as well as distribute their own videos. Brightcove is planning on launching ad revenue sharing soon.