Friday, February 15, 2013

Science Inc. Gets $30M From Hearst

Science Inc., the technology startup incubator and studio headed by former MySpace CEO Michael Jones, has raised around $30M in funding from Hearst Ventures, the venture capital arm of Hearst Corporation, Hearst said this morning. Science Inc. and Hearst did not disclose terms of the deal, but AllthingsD said the investment was worth $30M and gave Hearst a twenty percent stake in Science.

Science is the startup behind such local startups as DollarShaveClub, EventUp, DogVacay, Ellie, Uncovet, and Wittlebee. As part of the investment, Hearst said that George Kliavkoff, EVP and deputy group head of Hearst Entertainment & Syndication, join's Science Inc.'s board.

Science is also backed by Tomorrow Ventures, Rustic Canyon Partners, and White Star Capital. The new funding comes from a new unit of HEarst called HEarst VEntures, which is headed by Scott Sassa.

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