Spanfeller Media Group, which runs foodie site The Daily Meal has secured a $6 million second round funding led by VantagePoint Capital Partners, with participation from existing investors. The company plans to use the funds to expand the site, as the competition in the online food space rises.
The Daily Meal was launched in January 2011 and now claims about 1.5 million monthly uniques.
On top of building up that site, SMG plans launch two new properties, one later this year and the second one in the second half of 2012. The company didn’t say whether those sites would be complementary to food, or something different.
When I spoke with former Forbes.com CEO Jim Spanfeller when he started SMG a year ago, he ruled out a number of content areas he didn’t want to get into, namely news, business/finance, entertainment, mainstream sports and tech.
Food content appears to be one area that can absorb an infinite number of users. According to comScore (NSDQ: SCOR), traffic to food sites in May reached 76 million, with the number one site being AllRecipes with 16.7 million monthly uniques. At the opposite end of the top 20 food sites was Burst Network’s CDKitchen with 1.5 million.
Considering CDKitchen has been around since 1995, it’s reasonable to assume that The Daily Meal could overtake it as it continues to expand its offerings. In addition to VantagePoint, SMG’s backers include SoftBank Capital NY, GSA Venture Partners, RRE Ventures and Lerer Media Ventures, as well as a group of angel investors.