HowStuffWorks Raises $15 Million Investment, Spins Into Private Entity

New Investment

Podcast network HOWSTUFFWORKS has raised $15 million in new investment through a Series A growth equity round led by THE RAINE GROUP.  The network is being spun off from parent SYSTEM1 into its own private entity; former GM CONAL BYRNE is rejoining the network as President.  HOWSTUFFWORKS recently expanded from its ATLANTA base with an additional office in LOS ANGELES, from which it plans to expand its base in comedy podcasts.

THE RAINE GROUP VP PETE AMARO said “We’re seeing an inflection point in podcasting as accelerating consumer adoption and performance for advertisers continues to drive the industry’s overall market potential. Podcasting has finally proven itself as a viable space for investment, and we feel that HOWSTUFFWORKS’ expertise in creating authentic audio content will prove to be a solid foundation to drive future growth. We’re excited about this strategic investment and are confident that HOWSTUFFWORKS will continue to be the top destination for podcasting.”

“HOWSTUFFWORKS has always been a leader in the podcasting industry and has amassed a fiercely loyal and engaged fan base,” said SYSTEM1 President/Co-Founder MICHAEL BLEND. “We’ve seen first-hand their rapid growth since our acquisition of the company and are excited to have RAINE onboard to help accelerate the next stage of growth.”

« see more Net News