FEDERATED MEDIA, a blog consortium that consolidates advertising in hundreds of blogs is sitting so pretty it can turn down and offer of $100 million and look for more:Battelle Turns Down $100 Million Offer For FM Publishing. Decides To Shop Around For a Higher Price.
The article states that founder and controlling shareholder John Battelle, "must be pretty confident that he can get more than $100 million for FM. (I was unable to reach him for a comment before posting this). Other investors from its $4.5 million A round two years ago include JPMorgan Partners, The Omidyar Network, The New York Times, Mitchell Kapor, Andrew Anker, Mike Homer, and Tim O'Reilly."
Ah, just a measley $4.5 million in start-up money yields more than $100 million in two years. Who says blog networks have to lose money?
Posted by Vanderleun at January 24, 2008 2:15 PM | TrackBack"It is impossible to speak in such a way that you cannot be misunderstood." -- Karl Popper N.B.: Comments are moderated to combat spam and may not appear immediately. Comments that exceed the obscenity or stupidity limits will be either edited or expunged.