- Daily digital magazine Ozy Media announced it has raised $35 million in Series C funding led by Marc Lasry
Ozy Media — a daily digital magazine founded by former CNN and MSNBC news anchor Carlos Watson and Goldman Sachs alum Samir Rao — announced recently that it raised $35 million in Series C funding led by Marc Lasry. Lasry is known as the co-owner of the Milwaukee Bucks and he was introduced to Watson through mutual funds, according to TheWrap.
Interlock Partners, LionTree, Atinum Investment, iHeart Media, Venture Souq and Clayton, Dubilier & Rice partners Thomas Franco, Don Gogel, and Roberto Quarta joined the funding round. And existing major investors GSV Capital, Axel Springer, and Emerson Collective also participated. Including this funding round, Ozy has raised over $70 million since it was founded in 2013.
“I think it actually started because his kids are big Ozy readers and went to Ozy Fest and listen to Ozy podcasts,” said Watson via TheWrap.
Ozy has been using its festivals, podcasts, and digital shows to ramp up its brand at a time while many other digital media brands are consolidating or shutting down.
“The opportunity in the media industry right now is huge, from streaming television to events. It’s exciting to be getting in early at a company at the forefront of media, with a proven ability to create and deliver compelling and differentiated content across platforms. The best is yet to come from Ozy,” said Lasry.
Ozy Fest is considered one of Ozy Media’s signature offerings. But this summer, the annual festival was canceled in New York due to excessive heat issues. John Legend was expected to perform at the event and Malcolm Gladwell was going to speak. The tickets were refunded.
“The next chapter of Ozy will see us producing even more and different TV shows, bringing Ozy Fest to even more cities, launching more flavorful podcasts to spice up your commute, as well as continuing to help our audience see a broader and bolder world through our award-winning digital news and features,” added Watson.
Ozy Media hits around 50 million monthly visitors across its platforms. And Watson said that the company does not measure success only by traffic.
Ozy revealed it was launching an in-house production studio last year called Ozy Studios. Through Ozy Studios, the company is launching TV shows and podcasts.
