Federated Gets $50M Influx, Staying Wagging Tongues
ADOTAS – After recently eschewing a hefty ($100 mill) buyout offer and enduring weeks of rumors and speculation about its future, Federated Media Publishing has announced that it’s raised a robust $50 million in C round funding led by Oak Investment Partners.“Federated Media has a proven, profitable business model with some of the industry’s most knowledgeable people at the helm,” said Fred Harman, general partner at Oak, who will be joining the FM board of directors, in a release. “The company has shown clear leadership in the emerging conversational media ecosystem. FM represents some of the best publisher and advertiser content on the Web, and with productive industry relationships, the company is poised to do amazing things going forward.”
Federated was founded three years ago and represents more than 125 social media gurus who operate more than 150 Web sites, blogs and social networking applications.
In 2007, Federated went into the black, selling about $22 million worth of ads – a more than five-fold improvement from the previous year, according to TechCrunch.
Federated’s digital media brands include online faves Boing Boing, Ask A Ninja, Digg and Dooce. It’s expanding its portfolio and this year it snapped up Silicon Alley Insider and Buzzine, among others.
“We’ve been an early and avid supporter of Federated’s model,” said Casey Jones, vice president of marketing at Dell. “We look forward to continuing our work with the company as it expands its business.”
Federated generates revenue for its partner sites through integrated sponsorships, interactive advertisements and marketing services. Federated will use the cash influx to create more ad inventory by expanding its business and its media partners’ businesses.
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