Cheddar acquired by Altice USA
Cheddar, the digital-first video news network, has been acquired by Altice USA, the US unit of Dutch cable provider Altice, for $200M in an all-cash transaction. Altice USA was formed when Altice acquired Optimum from Cablevision. Altice had been a distribution partner for, and investor in, Cheddar. “The Altice team and Altice Way are as entrepreneurial as it gets with amazing markets, world-class local and international news, an amazing broadband network, and a soon to launch mobile offering. I can’t wait for Cheddar to begin working with Altice’s team,” said Jon Steinberg, Founder and CEO of Cheddar.
Selected investors in the round: Amazon, AT&T, Comcast Ventures, Goldman Sachs, Ribbit Capital
Founding year: 2016
Total funding raised: $54.0M
Time from founding to exit: 3.33 years
Full coverage: Cheddar acquired by Altice USA
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