FM Does Another Round of Financing

By Deane Barker on April 22, 2008

Federated Media’s $50 Million C-Round Confirmed — No Plans to Buy Up Blog Partners: FM raised a bunch of new money, and this TechCrunch article has some good information about how they work behind-the-scenes.

After turning down a $100 million buyout offer, Federated Media Publishing has opted instead to raise $50 million in a C round led by Oak Investment Partners. As was reported two weeks ago, the rumored valuation is $200 million. While the company is not confirming that number, publisher Chas Edwards quips, “We have to be worth at least $101 million.”

[…] In 2007, according to Edwards, Federated Media sold $22 million worth of ads across its network, up from $4 million in 2006. It generally splits the ad revenues with publishers, taking 40 percent for itself.