NBCUniversal and Comcast Ventures, the investment arm of the media conglomerate, are getting into bed with Acorns, a financial app aimed at millennials.
The strategic partnership is centered on opportunities for editorial content and events.
Acorns, which says it has more than 4.5 million accounts, will receive an equity investment from Comcast Ventures and will be giving a board seat to NBCUniversal that will be occupied by CNBC Chairman Mark Hoffman.
"This partnership with Acorns builds on CNBC's 30-year commitment to democratizing the financial markets, helping generations invest for their future," said Hoffman in a statement. "We are excited to bring together two brands with this shared social purpose to drive value to our viewers, users and customers."
CNBC will hire a team to create financial literacy and personal finance content for Acorns platforms. CNBC will also produce features for a cross-company financial wellness initiative named "Invest in You: Ready. Set. Grow." that will run across CNBC, NBCUniversal and Comcast platforms.
"We aim to put the tools of wealth making in everyone's hands and this includes helping all Americans grow their money knowledge," said Noah Kerner, CEO at Acorns, in a statement. "Collaborating with the powerhouse that is CNBC will take these efforts to entirely new heights for our customers."
CNBC is immediately beginning content production for Acorns and plans to expand those efforts in the coming weeks. At the same time, NBC News is working on launching Signal, a 24-hour streaming news service that will feature all original content aimed toward younger audiences.
“There is a growing segment of people who have never had a cable subscription, but who are just as hungry for smart news as the prior generations of news watchers who have consumed NBC News for decades,” said Nick Ascheim, senior vice president of digital at NBC News Group, in a statement. “These consumers—who are up to date on the headlines but are seeking a deeper understanding of the news of the moment—are increasingly turning to OTT devices for ‘lean back’ news consumption or an on-the-go informative experience and that’s exactly what NBC News Signal will deliver.”