Hearst Ventures Makes Equity Investment in Science Inc.
Company specializes in digital startups
February 15, 2013
YORK -- Hearst Ventures, a unit of Hearst Corp., has made a minority
investment in Science Inc., a technology
operating company specializing in the creation and rapid scaling of digital
Science creates, scales and acquires digital businesses by bringing together
the best ideas, talent, resources and financing through a centralized platform.
Science, which has already started 13 companies, focuses on developing new
businesses, providing emerging startups with operational strategy and capital,
and transforming later-stage Internet ventures with new talent and innovations.
As part of the investment, George Kliavkoff, executive vice president and
deputy group head of Hearst Entertainment & Syndication, will join the
Science board of directors.
Science was founded by startup professionals in November 2011 with Series A
funding from several marquee venture investors, including Eric Schmidt’s
Tomorrow Ventures, Rustic Canyon Partners, and White Star Capital. Science’s CEO,
Michael Jones, is a long-time digital entrepreneur and executive who most
recently served as the CEO of Myspace and successfully sold that business for
News Corp. Prior to Myspace, he had started and sold Userplane to AOL in 2006.