Tab Media, publishers of university news network The Tab and women’s lifestyle website Babe, has won $6m in investment that it says will fund “original reporting” and “training for young journalists”.
A “decent proportion” of the investment has come from News Corp and investment firm Balderton Capital, according to a spokesperson who said they would not go into details about the amounts paid.
For their investment, News Corp has taken a minority stake in the group and Times deputy editor Emma Tucker has joined its board of directors.
The Tab was founded by students at Cambridge University and is now headquartered in New York, with an office in London, and covers both UK and US news.
It claims to have a monthly audience of 50m people across its websites and has broken stories including exposing a Cambridge student who allegedly set fire to a bank note in front of a homeless person.
Tab Media founder and CEO Jack Rivlin said: “It’s awesome to have the backing of News Corp, one of the biggest names in the news business.
“We’ve built a power base among people in their late teens and early twenties by recklessly handing over the keys to really young writers and producers and seeing what they come up with.
“We’re going to spend the money hiring more of them.”
Rebekah Brooks, chief executive of News UK, which is owned by News Corp, said: “The Tab and Babe have the youngest editorial staff we’ve ever seen, and they have built an incredible connection with the new generation of young people in the US and UK.
“News Corp champions original journalism and this is an exciting investment for us, with opportunities to support grassroots talent on both sides of the Atlantic.”
Tucker said: “There is some incredible talent at The Tab and it is a great place for young journalists. We are pleased to be supporting both The Tab and babe as they continue to expand in the US and UK.”
Other investors in Tab Media include Knight Ventures and Downing Ventures.