Mashable Scores $15 Million Investment From Turner

TBS and TNT will develop and distribute video with the tech and culture news site

Mashable Blog Founder and CEO Pete Cashmore
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Time Warner unit Turner led a $15 million investment round in tech news site Mashable, the companies said Thursday.

Turner networks TBS and TNT and Mashable will develop and distribute video, extending the news site into linear TV and moving Turner programming in front of Mashable’s digital audience, numbering 45 million monthly unique visitors.

Turner Entertainment also will gain access to Mashable’s prediction and tracking tool, Velocity, and the two companies will collaborate on advertising by selling inventory across their combined properties.

As part of the funding agreement, Kevin Reilly, chief creative officer for Turner Entertainment and president of TBS and TNT, will join Mashable’s board.

“Just as we are redefining these networks and continue to innovate beyond the traditional television universe, Mashable is redefining digital storytelling, making us ideal partners in today’s rapidly evolving media ecosystem,” Reilly said in a statement.

Pete Cashmore, CEO and founder of Mashable, said that the future of TV was the most exciting facet to the next ear of media. “Turner, home to the top rated cable networks, is the perfect partner to bring the best of tech and digital culture to TV in fresh ways,” he said.

Other investors in the round included Time Warner Investments, Updata Partners, David Jones and Mike Lazerow, with participation from R&R Venture Partners, a fund created by Dick Parsons and Ronald Lauder.