HowStuffWorks Brings In $15 Million
Internet and IoT startup HowStuffWorks closed $15 million in growth equity financing, led by global merchant bank The Raine Group.
Founded in 1998, HowStuffWorks is a leading for-profit publisher of podcast content. The company is the parent company of 14 leading podcast brands, including Stuff You Should Know, Stuff You Missed in History Class and Stuff Mom Never Told You. HowStuffWorks distributes content across multiple platforms and distribution partners, and it has amassed a library of more than 6,000 podcasts with one billion downloads.
As part of the financing, HowStuffWorks is spinning out from its current parent company, System1, and becoming an independent entity. According to the company, during the next year it will invest heavily in podcasting with a focus on bringing in fresh global talent, adding new genres with deep IP potential, and pioneering new technology to continue developing the podcast industry.