Vice Media hits $5.7bn valuation

Here's what it plans to do with its latest investment...

Vice Media hits $5.7bn valuation

David Jensen/EMPICS Entertainment

Vice Media's market valuation has swelled to $5.7bn following an investment of $450m from the private equity group TPC.

The company - whose other investors include 21st Century Fox, Walt Disney, and British advertising multinational WPP - has seen its value double in the past three years.

TPC's has also previously invested in Spotify and Airbnb.

In late 2015, Disney doubled its stake in the media firm, increasing its total investment to $400m. The Mouse House also considered a move to acquire the publisher and held takeover talks in 2016. These discussions ended without a sale.

Vice gained a strong online following after producing YouTube documentaries from regions like North Korea, Iraq and the Democratic Republic of Congo. Its content is now spread across 15 online channels including Vice News, Munchies, Motherboard, and Noisey. 

Founder and CEO Shane Smith said that the company hopes to "build up the largest millennial video library in the world – enabling Vice to widen our offering to include news, food, music, fashion, art, travel, gaming, lifestyle, scripted and feature films."

The bulk of this fresh cash injection will be used to fund the launch of Vice Studios - a "scripted multi-screen programming" venture. Mr Smith hopes that it will become, "the go-to home for the next generation of great storytellers in feature films and scripted episodic content across the world."

In the past year, the company has launched its TV station, Viceland.

It's also rolled out three new online verticals, Impact, and advocacy arm which focuses on social, economic and environmental issues, a gaming brand called WayPoint, and its health channel, Tonic.