Bustle Raises $11.5 Million for Young Women Website

Fortune: Bustle, a New York City-based news website aimed at millennial women, has raised $11.5 million in new funding led by Saban Capital, with participation from GGV Capital and existing investors General Catalyst Partners, Time Warner Investments, and Social Capital. Richard Yen of Saban Capital will join the company’s board. The company, founded in 2013, has amassed an audience of 32 million, most of which are young women between the ages of 18 and 34.