Michael Moritz (pictured below), venture capitalist with Sequoia Capital, and backer of Google and Yahoo, is apparently funding a blog company called Sugar Publishing, which runs four popular blogs, including flagship PopSugar, that caters to young, hip women.
The San Francisco start-up, which has a social networking component, says it is already getting 13 million monthly page views (or so it said in August), and 1.5 million unique visitors.
Sugar Publishing was founded in April by 32-year-old San Francisco software entrepreneur Brian Sugar with $250,000 of his own money.
It doesn’t expect to earn any money until the end of next year, but just two months after it was founded, it was already getting a bountiful offer from a Boston VC firm in the $10 million valuation range, or so the company said. So this investment from Sequoia should be a bit higher, if the rumor is true. Banana Republic bought out the company’s entire ad inventory for a week in July, the company said.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn more about membership.