Cheddar Inc.

Cheddar Inc. is a New York City-based digital media company that produces live video content focused on business, technology, and financial news for millennial audiences. The network broadcasts directly from a dedicated studio on the New York Stock Exchange trading floor and distributes its daily programming across major streaming platforms, including Roku, Hulu, SlingTV, Spectrum, and Twitch. Prior to its strategic exit, the enterprise raised venture capital from prominent early-stage investors such as Lightspeed Venture Partners, Homebrew, and WGI Group, beginning with a $3 million initial seed funding round. In May 2019, telecommunications provider Altice USA acquired the media network for $200 million to integrate it into a broader corporate news division alongside regional broadcast networks News 12 and i24News. Cheddar Inc. was officially founded in early 2016 by former media industry executive Jon Steinberg.

High-Level Overview

Cheddar Inc. is a digital media company specializing in live-streamed business and financial news targeted at young professionals and millennials. Founded in 2016 and headquartered in New York City, it operates networks like Cheddar (focusing on business, tech, and innovation) and Cheddar News (general non-partisan news), broadcasting via platforms such as YouTube, Twitter, Facebook, and its website, often from the NYSE floor, Nasdaq, and other key locations.[1][2] The company serves a digitally native audience seeking fast-paced coverage of products, technologies, executives, and market trends, solving the gap left by traditional cable news that fails to engage younger viewers.[1][2]

Cheddar has shown growth through rapid scaling, raising $57.2M in funding, and strategic acquisitions: bought by Altice USA for $200M in 2019, then sold to Archetype (owned by Regent LP) in December 2023.[2][3] Post-acquisition, it continues as a multichannel news broadcaster amid media industry shifts.[2][5]

Origin Story

Cheddar was founded in early 2016 by Jon Steinberg, a former BuzzFeed executive, who identified a market void in business news for millennials turning to digital platforms.[1][2][4] Steinberg, with initial team member Peter Gorenstein (chief content officer from Yahoo), launched live streaming from the New York Stock Exchange just months after inception, committing to non-stop expansion—one hour of content grew to full daily broadcasts.[1][4]

Early traction came fast: in its first financing round (January 2016), Cheddar raised nearly $3M from investors like Snapchat's Jeremy Liew and Lightspeed.[2] Pivotal hires included Anjali Kumar as general counsel in 2017, and further funding ($22M in 2018) fueled international plans and new channels like Cheddar Big News.[2] These moments humanized its scrappy rise from a two-person idea to a multimillion-dollar media player.[4]

Core Differentiators

• Live, Digital-First Streaming Model: Broadcasts daily from high-profile spots like NYSE and White House, blending news with real-time tech/product demos—unlike static cable networks.[1][2]
• Millennial/Gen Z Focus: Fast-paced, non-partisan content on business, tech, politics, and culture via social platforms, resonating where traditional media falls short.[1][2][3]
• Multichannel Expansion: Operates Cheddar and Cheddar News, with shoppable onscreen features for consumer products; evolved into international channels post-funding.[1][2]
• Proven Scalability and Backing: Quick growth from startup to $200M acquisition by Altice (2019), then Archetype (2023), with operating resilience despite pandemic layoffs.[2][3][5]

Role in the Broader Tech Landscape

Cheddar rides the shift from cable TV to digital streaming, capitalizing on cord-cutting trends and social media's dominance for news consumption among under-40s.[1][2] Timing aligns with 2016's explosion in live video (e.g., Snapchat, YouTube), enabling low-cost, high-reach distribution that traditional outlets like CNBC can't match.[1][4]

Market forces favoring it include investor appetite for "post-cable" models—evidenced by $57M+ funding and acquisitions—and the demand for authentic, founder-focused tech coverage amid fintech, AI, and startup booms.[2][3][5] Cheddar influences the ecosystem by amplifying emerging companies directly to viewers, fostering a pipeline for talent and ideas in New York's tech-media hub.[1][2]

Quick Take & Future Outlook

Under Archetype's ownership since late 2023, Cheddar is poised to deepen shoppable media integrations and AI-enhanced personalization for live news, targeting sustained revenue in a fragmented market.[2][3] Trends like short-form video dominance (TikTok, Reels) and real-time e-commerce will shape it, potentially evolving into a hybrid news-commerce platform.

Its influence may grow by mentoring next-gen creators, but success hinges on navigating ad volatility and competition from Big Tech platforms—tying back to its origins as a bold disruptor redefining news for digital natives.[1][5]