The online vertical content network announced that it has secured $10 million. The money, which was not broken out, came from Mizuho Venture Capital, a subsidiary of Mizuho Bank, and a new joint venture for Glam Media Japan KK with investments from top ad agencies Dentsu and ADK, leading magazine publishers Shogagukan and Syueisya, top news and print publisher NikkeiBP and additional local investment by Mizuho. In addition, Hubert Burda Media announced an additional second round of investment in the joint venture with Glam Media in Germany.
“Glam Media has proven its new media model can fuel one of the fastest-growing online companies in these difficult economic times,” Samir Arora, chairman and CEO of Glam Media, said in a statement. “We are honored to have prestigious investors such as Mizuho, Dentsu, ADK, Shogagukan, Syueisya, NikkeiBP and Hubert Burda Media as our partners in helping build Glam Media into one of the leading media companies of the world.”
The company says that the new investment will be used to continue expansion in the US, as well as to significantly grow its international presence in Japan and Germany.
Glam Media has recently launched a micro-blogging service, Tinker, which is a platform for people to find, follow, filter, create and share real-time conversations on events and breaking news. It has also continued to expand into the men’s space, with a partnership with sports blogging network SB Nation.
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