SF Gate reports that according to the Wrap, Jeffrey Katzenberg?s tech startup WndrCo has completed a billion-dollar capital raise for the mobile-first content platform that it announced earlier this year.
Currently titled ?NewTV,? the company said Tuesday the platform counts every major Hollywood studio as an investor, as well as tech giant Alibaba.
Katzenberg said in a statement, ?It is exciting to see Hollywood embracing this new technology distribution platform built for the way we watch today."
NewTV CEO Meg Whitman, former head of Hewlett Packard Enterprise and onetime California gubernatorial candidate, said, ?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."