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Discovery Leads $40 Million Round for Thrillist Owner Group Nine

  • Group Nine building Snapchat studio, creating TV programming
  • Investment is on top of $100 million in funding last year
Food Network & Cooking Channel New York City Wine & Food Festival Presented By Coca-Cola - Coca-Cola Backyard BBQ hosted by Bobby Flay and Michael Symon presented by Thrillist sponsored by National Beef & Pat LaFrieda Meats

Photographer: Cindy Ord/Getty Images 

Discovery Communications Inc. is increasing its bet on Group Nine Media, leading a $40 million funding round for the holding company of web publishers like Thrillist and NowThis.

Discovery, owner of cable channels like TLC and Animal Planet, already had invested $100 million in Group Nine a year ago. Other participants in the latest funding round were German media giant Axel Springer SE and Lerer Hippeau Ventures.