Today I woke up and found myself in the year 1998, where internet sites could raise gazillions: Glam Media, Inc. the number one in reach for women online, announced today the closing of $84.6 million.
Glam Media raised $64.6 million in Series D funding and $20 million in revenue-based debt financing. The equity-financing round is led by Germany's Hubert Burda Media, an international media powerhouse and publisher of more than 260 magazines titles and an investor in more than 25 high-growth digital holdings.
Other investors for the round include: GLG Partners, a leading alternative asset manager; Duff Ackerman & Goodrich Ventures (DAG), a leading crossover fund with a rich history in Internet and TV networks; and existing investors Accel Partners, Draper Fisher Jurvetson, Walden Ventures and Information Capital. Hercules Technology Growth Capital, a leading provider of debt and equity capital, will provide the debt financing.
The new funding will fuel Glam Media's aggressive global expansion in 2008 across new territories and categories, focusing on transforming brand display advertising on the Web as the market shifts away from the dominance of portals and destination sites to the distributed media network model that Glam Media helped pioneer.
Christiane zu Salm, who joins the executive management board of Hubert Burda Media in April 2008, will join the Glam Media Board of Directors as an observer.
More details in this Glam Media press-release.