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"Upfront Ventures, the first investor in Marker Studios, is taking another stake in a YouTube network startup.\nThe VC firm has led a $10 million round for MiT\u00FA, a popular YouTube network focused focused on Latino audiences. MiT\u00FA's has more than 40 million combined subscribers across its channels and logs over 400 million monthly views, according to the company's press release. \nSee also: Top 10 YouTube Beauty Channels to Follow\nThe news was first reported by Re/code. MiT\u00FA raised $3 million in 2012 in a round lead by the Chernin Group.\nRecent major acquisitions of YouTube networks \u2014 Disney's acquisition of Maker Studios and DreamWorks buying AwesomenessTV \u2014 have made the once-maligned online video production industry a hot commodity.\nMiT\u00FA offers similar programming as other YouTube networks, including a beauty, fashion and do-it-yourself verticals, but tailored for Latino audiences. Its content includes English, Spanish and Portugese-language video.\n\"Latinos are a high demand demo, driving population growth yet their media choices have been limited,\" Beatriz Acevedo, president and co-founder of MiT\u00FA, said in a press release. \"We are the leading digital media company for Latinos, we create culturally-relevant content, discover new break-out talent and are a fresh alternative for advertisers, networks, studios and global Hispanic audiences.\"\nMark Suster, a partner at Upfront Ventures, said that as competition for online video views increases, said the initial success of broad networks will soon give way to success for more targeted content. \"I think future networks will be built around very strong verticals,\" Suster told Mashable. \"So like you see with Tastemade in the food and travel space, like you see Vevo for music, like you see Machinima for games, MiT\u00FA is the largest in latino content and there are unique attributes that will make MiT\u00FA and enormously large player.\"\nUpfront has committed the \"overwhelming majority\" of the funding round, according to Suster, with previous investors also taking part. Suster also expressed confidence in the people at MiT\u00FA and the company's chances of moving beyond YouTube.\n\"The future is going to be fragmented and great digital video production companies will need to have the technical chops to understand how to distribute across all of these fragmented platforms,\" he said."^^<http://www.w3.org/2001/XMLSchema#string>
<http://mashable.com/2014/06/19/upfront-ventures-looks-for-next-maker-studios-in-latino-youtube-network/>