Since then, WndrCo has raised $595 million, and, more recently, Katzenberg has been telling industry executives that he’s now only looking to raise about $1 billion, according to Recode. It’s not clear how much Katzenberg and Whitman are looking to raise specifically for New TV, but in public comments that Katzenberg made last year, he said he was looking to raise $2 billion for all New TV.
Whitman’s long track record in building and running major tech companies including eBay and HP will ideally complement Katzenberg’s background in content, these sources said. Whitman will hire a team for New TV as the venture also raises funds to get the product off the ground, said sources with knowledge of the company’s plans. 24, former HP CEO Meg Whitman was named CEO and first employee of what WndrCo is referring to as its “New TV” venture, which doesn’t have an official name or product yet but will be a subscription-based platform developed in-house by the company.
