Shira Lazar’s What’s Trending, the daily pop culture live show on YouTube,has raised funding from Bedrocket Entertainment, the digital entertainment company headed by TV veteran Brian Bedol and co-founded by Huffington Post co-founder Ken Lerer. The amount of funding wasn’t disclosed, but we’ve heard that it’s a seven-figure number.
What’s Trending wants to use the new cash infusion to scale its production and invest in ad sales and multi-platform distribution. The funding comes as a kind of validation that What’s Trending’s YouTube strategy is working. What’s Trending originally launched in 2011 as a web format for CBS, but severed ties with the network soon after and briefly tried its luck as a weekly pop culture show online, only to turn into a daily YouTube format a year ago.
The funding announcement comes just a day after news broke that Fullscreen Networks has raised an undisclosed amount from the Chernin Group, Comcast Ventures and WPP, and adds to a number of funding announcements for YouTube-based businesses in recent months. Which goes to show that — despite all the recent talk to the contrary — at least investors still think there’s money in producing content for YouTube.
Speaking of which: Bedrocket’s Lerer came to our recent paidContent Live conference to share his thoughts about investing in digital media. Check out the video below: