Tastemade, a digital lifestyle and food network and studio that also sells cooking materials, home and travel gifts, has secured a $35 million Series E funding round with Amazon contributing a share. The amount of capital Amazon invested has not been disclosed.
As Amazon continues to create original programming through its own studio and grows as a content provider, Tastemade offers an interesting complement to the e-Commerce giant’s other media offerings. The Tastemade TV linear streaming network features more than 200 hours of original programming and already is available on Amazon Prime video, as well as other streaming services such as YouTube TC, Roku, Apple TV, Philo and the Tastemade App.
Amazon has sought to bolster its presence in various industries recently, from health care to private label fashion and even aftermarket auto parts, but it has never before stood out in cooking and kitchen-related materials. With Walmart launching a line of cookware and kitchen tools with BuzzFeed’s Tasty brand earlier this year, Amazon feels the heat of its top retail competitor building a greater influence in the culinary field.
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Tasty food recipe videos reach nearly 540 million people worldwide through Facebook, YouTube, Snapchat and other social media platforms, according to BuzzFeed. With the Tastemade investment, Amazon would have a greater stake in a culinary content provider, and perhaps give the company a chance to expand its product offering on Amazon.com down the line.
The new financing brings Millennial-focused Tastemade to approximately $115 million raised since its founding in 2012. Goldman Sachs Growth Equity led the funding, while Amazon tagged along with another new investor, Cool Japan Fund.
“This funding will allow us to continue to develop a strong connection with our core audience through their passions for food, home and design, and travel, and bring new consumers into our worldwide community,” Larry Fitzgibbon, Co-Founder and CEO of Tastemade said in a statement.
Tastemade, based in Santa Monica, Calif., says it reaches a global audience of more than 250 million monthly viewers and has run more than 500 ad campaigns to date. The company currently operates six studios across the world, in Los Angeles, Sao Paulo, Buenos Aires, London, Paris and Tokyo. Tastemade has launched local language channels in each market and expanded its sales teams.
