Alibaba joins $1b round of new mobile video service by ex-Disney’s Katzenberg

Photographer: Qilai Shen/Bloomberg

WndrCo, a venture co-founded by former Disney executive Jeffrey Katzenberg, said on Tuesday it raised $1 billion from several media and financial companies for a mobile-based video service.

The platform, with a working title of “NewTV”, will be led by Meg Whitman, former chief executive officer of Hewlett-Packard, while Katzenberg will be the chairman.

WndrCo, founded in 2017, said NewTV plans to make Hollywood-style, short-form videos for mobile use.

“With NewTV, we’ll give consumers a user-friendly platform, built for mobile, that delivers the best stories, created by the world’s top talent, allowing users to make the most of every moment of their day,” said Whitman.

The capital raise includes investments by major Hollywood studios such as 21st Century Fox, Disney and Viacom.

China’s Alibaba, Goldman Sachs, JPMorgan Chase and Madrone Capital have also invested in the company.

“It is exciting to see Hollywood embracing this new technology distribution platform built for the way we watch today,” Katzenberg said.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.