Media - Thursday, December 21, 2006
The Kraft Group and The Raptor Fund Lead $20M Round in Plum TV
PlumTV has raised $20M for its growing network of TV channels set in resorts towns. The company creates original content and operates the stations. Bold-faced names also invested: Chris Blackwell, Jimmy Buffett, Robert Pittman, Tom Freston, Andy and Kate Spade, Jason Flom and Barry Sternlicht among investors. Founder Tom Scott was the co-CEO and co- founder of Nantucket Nectars, which he sold for $100M. He then started hanging out in 5 star resorts and realized that this was a great market for an up-scale TV channel.
Plum's growth plans are to acquire additional stations in Sun Valley and Miami Beach. These two new markets will join Plum's current markets of Nantucket, Martha's Vineyard, the Hamptons, Vail, Aspen, and Telluride.
A Couple Of Programs That Run On Plum's Hampton's Channel
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