Citymapper, Lovefilm and Betfair backer Balderton Capital invests $3m as The Tab takes on America

 
Madeline Ratcliffe
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2013 Harvard University Commencement
Now Harvard students can get involved with The Tab's online journalism (Source: Getty)

Student tabloid The Tab has got America in its sights with a $3m (£1.98m) investment from one of Europe's largest venture capital firms Balderton Capital.

Balderton has invested previously invested in fashion site Yoox, which it floated in 2009 and recently merged with Net-a-porter, LoveFilm, which it sold to Amazon in 2011, Betfair and Citymapper.

The Tab said it would use the funds to continue its American expansion after opening its first US office, with a team of 16 editors in New York, in September. It currently is active at 25 US universities, including all the Ivy League colleges, and is planning to launch at 45 more by April, including Stanford and Berkeley.

Balderton general partner and Tab board member Suranga Chandratillake said:

The Tab is a technology-powered cultural phenomenon. The team has built a unique way to scale authentic, engaging grassroots journalism across the UK and has shown that the same model works in the US too.

Tab co-founder and editor-in-chief Jack Rivlin said: “The Tab is much more than a publisher - we are building the largest talent network on the planet by making the newsroom experience possible anywhere."

“By combining the ease of social with the quality of professional media, we’re producing original and incredibly engaging stories at a much lower cost. We think we can become the biggest platform for talented young journalists in America, as we have in the UK.”

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