Funding Fun

HuffPo Cofounder Ken Lerer’s Stealth Video Startup, Planet Daily, Raises $5 M.

The "CNN Killer" has raised $5 million from undisclosed investors.
 HuffPo Cofounder Ken Lerer’s Stealth Video Startup, Planet Daily, Raises $5 M.

Mr. Lerer (lererventures.com)

Planet Daily, the new video startup announced a few weeks ago by ex-HuffPo execs Ken Lerer and Eric Hippeau, has raised $5 million from undisclosed investors, according to a Form D filed today with the SEC.

Planet Daily, which will reportedly launch this summer in time for the presidential elections, is a video news startup targeted at the Jon Stewart set. The service is a joint venture with Bedrocket Media, another startup that Mr. Lerer has invested in. Planet Daily has been touted as a “CNN killer,” but they should probably set their sights a little higher, because who still watches CNN anyway?

We’ve reached out to the team at Lerer Ventures for more information on this, but word has it that they have a CEO summit today, so we haven’t heard back yet. We’ll update as soon as we know more.

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