Colbert's $5M Hollywood Bet

Stephen Colbert is taking his scriptwriting software company, Scripto, to the next level after receiving $5 million in seed funding. The company, which Colbert co-founded with Rob Dubbin, has already been used by several variety shows, including The Late Show, The Daily Show, and Last Week Tonight with John Oliver.

Scripto was born out of Colbert's frustration with the computerized writing system on The Colbert Report over a decade ago. Since then, it has quietly spread to other variety shows, including Full Frontal with Samantha Bee and The Opposition with Jordan Klepper. The company's software allows teams to collaborate in real time on a script, making it an attractive tool for writers and producers in the entertainment industry.

The $5 million in seed funding was led by Todd Steifel, with participation from Colbert, his wife Evelyn McGee Colbert, J.J. Abrams, and Marc Cuban. This investment will help Scripto expand its reach and bring its cloud-based software to more of Hollywood. Colbert, who spent 10 years hosting The Late Show, is now focused on growing his company and making its software more widely available.

## What's Next With the new funding, Scripto is poised to become a major player in the scriptwriting software industry. Colbert's goal is to make the platform the go-to tool for writers and producers in Hollywood, and with its cloud-based collaboration features, it has the potential to revolutionize the way scripts are written and produced.

The expansion of Scripto comes at a time when the entertainment industry is increasingly looking for new and innovative ways to create and produce content. With its real-time collaboration features and cloud-based platform, Scripto is well-positioned to meet this demand and become a leading player in the industry.

## Why it Matters The growth of Scripto has significant implications for the entertainment industry. As more writers and producers begin to use the platform, it has the potential to change the way scripts are written and produced. With its real-time collaboration features, Scripto makes it easier for teams to work together and create high-quality content. This could lead to more efficient and effective production processes, and ultimately, better content for audiences.

Colbert's involvement in Scripto also highlights the growing trend of celebrities investing in and creating their own technology companies. As the entertainment industry continues to evolve, it's likely that we'll see more celebrities following in Colbert's footsteps and investing in innovative technologies that can help shape the future of the industry.