[Updated: We've corrected the article below, based on further reporting. Regulatory filings about venture capital financings are tricky, because they're often late, and misleading. That's why the proposal to bring more transparency is a good one.]
Federated Media, a popular but sometimes controversial ad network for blogs, has raised another $4.5 million in funding, according to PE Hub’s read of the company’s recent regulatory filing.
Returning backers include New Enterprise Associates and Omidyar Network, according to the filing; FM has raised nearly $3 million to date, PE Hub reports. [Update: We're told NEA didn't invest, and its not clear why PE Hub reports this. The lead investor in FM has always been Panorama Capital, a group formerly part of JP Morgan Partners.].
Disclosure: VentureBeat uses FM services.
Tags: co:federated-media, inv:New-Enterprise-Associates, inv:Omidyar-Network3 Comments
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will said:
FM needs to wake up and smell the coffee. . . they are missing out on all the latest trends for ad networks. .. my advice is for them to take a deep deep look at glam’s syndication model and copy as much as they can . . .
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Dan Primack said:
The reason for the mistake was totally human (being me), not the reg filings. I was working on another deal led by NEA, and I pathetically listed the wrong firm. Panorama (technically JPMP) is part of the Series B, as Matt writes. In fact, JPMP put in the most $$.
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Little Guy Network-Xtreme said:
Thanks for the insight, I see things clearer now.
2 Trackbacks
7:43 pm
Federated Media navýšila kapitál o 4,5 milionu $ said:
[...] se z dřívějších investorů postarali New Enterprise Associates a Omidyar Network. Zdroj: VentureBeat Blogy, BuzzMag, Cisco, Earth2Tech, Federated Media Publishing, FoundRead, GigaOM, HP, Intel, [...]
11:48 am
FM Publishing Gets $4.5M : Professional Blogging News said:
[...] Beat updates the original Private Equity Hub story, noting that Omidyar Network, not New Enterprise Associates [...]