ITV Leads Zealot Networks' Newest Strategic Investment Round
Zealot Hits $100 Million Valuation Mark Within 6 Months of Initial Funding
LOS ANGELES(22 Dec 2014)
Zealot Networks, a digital-first media company and growth accelerator that empowers creative entrepreneurs by delivering multi-platform revenue, distribution and development opportunities, today closed a strategic investment from ITV, the $13 billion global media giant. ITV is the leading integrated producer broadcaster that operates the largest commercial family of channels in the U.K.
The new round puts Zealot over the $100 million valuation mark within 6 months of initial funding. The investment will support the building out of Zealot's digital studio capability and continued incremental strategic M&A activity. To date, Zealot has raised more than $30 million.
"ITV's investment provides a foothold in Europe and lays the groundwork for Zealot's global expansion," said Danny Zappin, president and CEO of Zealot. "The ITV relationship also gives us upstream opportunities for IP/content to distribute across traditional and digital media platforms."
"Danny Zappin has been at the forefront of digital media in the U.S. for some time and it's fantastic to be part of this exciting new venture," said Kevin Lygo, managing director of ITV Studios. "A key part of ITV's strategy is to exploit the increasing global demand for quality content across a range of platforms, which closely aligns with Zealot's own ambitions to not only distribute content across its own sites, but also to third party platforms such as YouTube, Vine and Instagram."
Under the terms of the deal, ITV will join the board of directors.
About Zealot Networks, Inc.:
Zealot Networks, Inc. is a digital-first media company and growth accelerator that empowers creative entrepreneurs and talent, delivering multi-platform revenue, distribution and growth opportunities. The company is poised to lead the next chapter in the ongoing evolution of digital media with its new holistic approach to connecting entrepreneurs with brands and like-minded communities based on transparency, ingenuity and experience. Zealot is a privately funded company led by a well-rounded, talented team who share the same values and vision: Co-founded by President and CEO Danny Zappin; CFO Bob Vanech; CSO Conn Fishburn and CMO Chad Seymour. For more information, please visit www.zealotnetworks.com.
About ITV PLC:
ITV is the largest commercial television network in the U.K. It is the home of popular television from the biggest entertainment events, to original drama, major sport, landmark factual series and independent news. It operates a family of channels including ITV, ITVBe, ITV2, ITV3 and ITV4 and CITV, which are broadcast free-to-air, as well as the pay channel ITV Encore. ITV is also focused on delivering its programming across multiple platforms including itv.com, mobile devices, video on demand and third party platforms. ITV Studios produces and sells programmes and formats in the U.K. and worldwide, and comprises of ITV's U.K. and international production operations, international distribution, home entertainment, publishing, merchandising and licensing.