Glam Media raises $85 Million

Feb 25 2008, 7:19am CST | by Luigi Lugmayr

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.

where to buy

Buy from Amazon

What Others Say about This

AP Top Technology News At 9:14 a.m. EST

Independent voices from the TWT Communities A statistically slanted view of sports, brought to you by a disciple of the Bill James movement. Egypt is filled with first hand accounts about Egypt - sharing stories, culture and news. This is story of a bele ...
Full article at: Washington Times More like this 46 minutes ago

AP Top Technology News At 10:20 a.m. EST

NASA's 2013 budget boosts manned flights

NEWS The Obama administration is requesting $17.7bn for NASA in its fiscal 2013 budget, down slightly from 2012 levels. On Monday, NASA administrator Charles Bolden put a positive spin on the proposed budget for 2013, which cuts funding for Mars missions ...
Full article at: ZDNet UK More like this 1 hour ago

Don't miss ...

Technology News

Solar Powered Clothing: The Future of Mobile Charging...

Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.