Katzenberg's venture raises $1 bln for mobile video service
WndrCo, founded in 2017, said NewTV plans to make Hollywood-style, short-form videos for mobile use.
"With NewTV, we'll give consumers a user-friendly platform, built for mobile, that delivers the best stories, created by the world's top talent, allowing users to make the most of every moment of their day," said Whitman.
The capital raise includes investments by major Hollywood studios such as 21st Century Fox, Disney, and Viacom.
China's Alibaba, Goldman Sachs, JPMorgan Chase and Madrone Capital have also invested in the company.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)