CNN Buys Content-Recommendation Startup Canopy to Build Out Digital News Platform – Variety
CNN has acquired Cover, a 15-person startup that developed a customized, privacy-focused content-recommendation engine. The WarnerMedia-owned information outlet mentioned it can use Cover’s expertise to speed up growth of a brand new venture to attach customers “to trusted sources, storytellers and creators.”
Phrases of the deal weren’t disclosed. Launched in 2018, Cover had raised $4.5 million led by Matrix Companions, in response to Crunchbase.
CNN mentioned all of Cover’s 15 staff will be part of the information group, led by founder and CEO Brian Whitman, who beforehand served as Spotify’s principal scientist. The Cover workforce hails from corporations together with Instagram, Google, Twitter and Flipboard.
CNN mentioned it can use Cover’s system for the event of “NewsCo,” the code-name for its forthcoming information and knowledge platform stocked with content material type CNN and third-party companions.
“This acquisition permits us to gentle up in a single transaction a confirmed, best-in-class workforce whose deep data and talent units would’ve taken many months and even years to assemble,” CNN EVP and chief digital officer Andrew Morse mentioned in saying the deal. “Cover’s tradition of fast-cycle, iterative software program and product growth will allow us to extra quickly understand our ambitions and ship towards our objectives.
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Cover makes use of a mixture of human editors and machine studying to floor content material individuals are almost certainly to be desirous about, whereas defending private knowledge on customers’ units.
In 2018, Cover launched Matter, an iOS app that gives a day by day collection of personalised information content material. With the CNN acquisition, the Matter app is predicted to be phased out.
“There has by no means been a extra essential time to assist folks uncover trusted sources round matters and points that matter most to them,” Whitman mentioned in an announcement. “We’re extremely excited to hitch the workforce at CNN to construct some wonderful merchandise for his or her tens of millions of world customers.”