Online Reference Site HowStuffWorks Receives $75 Million

Instructional content site HowStuffWorks has raised another $75 million to support general growth efforts and refinancing, the Atlanta Business Chronicle reported. Participants in the round included Capital Research & Management, Chilton Investment Co. and several others. The financing follows two other fundings within the past year. As we reported in January, the online reference company received a commitment of $50 million in investment for HSWI to launch HowStuffWorks in Brazil and China in partnership with Intac International, a Chinese wireless and online service provider. And last April, billionaire investor Carl C. Icahn, along with other investors, raised an initial $22.5 million to start HSW International. This current $75 million is completely separate from the Chinese venture and is strictly for domestic needs.
Additionally, the company is working with user-generated ad platform ViTrue to help develop an online video service. The two Atlanta-based companies have already begun allowing organizations to upload educational videos, which are designed to complement existing articles. More than 1,000 videos are currently available, including ones posted by Sony Electronics and Georgia Tech.