All Def Digital Gets Five Million

ALL DEF DIGITAL RAISES $5M SERIES A FINANCING LED BY GREYCROFT PARTNERS

Funding Will Accelerate Company’s Cross Platform Growth, Original Programming and Development of Network Talent

ALL DEF DIGITAL, INC. (ADD) announced today it has closed $5M in Series A financing led by the influential new media venture capital firm Greycroft Partners, with participation from Advancit Capital, Nu Horizons Investments and e.ventures. The announcement was jointly made by ADD co-founder Russell Simmons and Greycroft’s Mark Terbeek, who will join the Company’s Board of Directors.

ALL DEF DIGITAL is the first digital consumer entertainment brand and cross-platform network built to deliver comedy, music, news, poetry and innovative artistry in all forms from the New American Mainstream to audiences worldwide.

The financing will accelerate the Company’s cross-platform growth, artist and talent development initiatives, and original programming in comedy, music, news and poetry, as well as branded entertainment and multi-dimensional sponsorships. The funding will also be used to expand ADD’s multi-channel network and operations.

Principal investors include some of the most important names in digital media and entertainment today. Greycroft is known for its experience, influence and success in the digital arena, making strategic early investments in a prestigious portfolio of new media and online video start ups including Maker Studios, AwesomenessTV, and The Huffington Post. Advancit Capital is led by Shari Redstone and its partners include Jonathan Miller (former chairman of AOL and Chief Digital Officer for News Corporation). E.ventures is a global venture capital firm with a 15 year track record backing companies as diverse as Groupon and Angie’s List. ADD’s funding sources also include as a major investor Nu Horizons, a fund jointly established between Russell and Kimora Lee Simmons-Leissner.

“Alan Patricoff at Greycroft is one of the most forward looking and savvy investors in early and advanced stage companies, period,” said Russell Simmons, co-founder of ADD. “And Mark Terbeek was one of the first VC’s to see the revolution in video coming, having experience in many related investments. Greycroft’s vantage point and network of relationships across the media landscape will be tremendously valuable to us as we grow.”

“We are thrilled to have the support of partners like Greycroft, Advancit and e.ventures.” said Sanjay Sharma, President and COO of ADD. “Mark Terbeek and Greycroft were the first to see the disruption of traditional media models caused by the collision of online video and the social web. Mark and the team have been involved in critical online video businesses, from AwesomenessTV and ZEFR, to Machinima and Maker Studios.”

“We have had the pleasure of backing some great teams in this sector and when we had an opportunity to invest in ALL DEF DIGITAL, we jumped at the chance,”said Terbeek. “When it comes to nurturing and introducing global audiences to new art forms and new artists, Russell is a one-of-a-kind visionary. He is a prolific entrepreneur who has been very methodically building an outstanding platform and team at ALL DEF DIGITAL. I’ve worked closely with Sanjay for five years and have seen the impact his strategic vision and operating expertise had in creating the MCN model itself. The opportunity to take prior learnings and build a transformative new brand, that spans video and music content, in this category, is tremendous and there’s no one better positioned than ADD to do it.”

ADD has been growing steadily, developing an increasing number of original content series, profiling and developing content with select network partners, and ramping up creative solutions with top tier brands. It recently announced a groundbreaking collaboration with Samsung to create ADD52, an artist discovery platform tied into an All Def channel on the MILK music streaming service. The Company’s most recent “Single of the Week”broke the Billboard/Twitter “Real Time”Top 10 Chart shortly after being released.

ABOUT ALL DEF DIGITAL

ALL DEF DIGITAL is a premium, multi-platform digital media company and entertainment hub, curating, developing and connecting a new generation of content creators from the New American Mainstream to global audiences. ADD embraces multiracial but singularly cultural entertainment in all its forms. The company produces original programming and supports and nurtures artists and cultural influencers of all kinds, comics, writers, directors, actors, poets and musicians through its multiple outlets and access points, including a record label, television and motion picture development group, artist management group, and deep partnerships with full service creative agencies. ADD is headquartered in Los Angeles, California, with offices in New York. For more information, visit the company at www.alldefdigital.com.