Federated Media Looking To Raise $20 - $30 Million: Report
Federated Media, the John Battelle-run ad network powering a number of major blogs, is looking to raise between $20 to $30 million, according to News.com. We reported in January that the company was looking to raise as much as $50 million and that it had also hired investment bank Savvian to vet incoming acquisition offers. According to the report, Battelle admitted to having hired Savvian, but said officially there was nothing new to say: “Who knows how this will play out?” Any raised would be much larger than the $4.5 million it raised from various investors including JP Morgan, Omidyar Network, NYT and various inviduals
Related Stories
Mar 5, 2008 4:20 PM ET
Posted In: Advertising, Money, M&A & Venture Capital, Venture Capital, Social Media, federated media
Newsletter
Comments (1)
Mar 5, 2008 5:39 PM
Ouch! This is a horrible sign and doesn’t bode well for their future. This clearly means they had a failed sale process with no serious buyer showing up. I’ve heard that morale is very bad there; they are in danger of losing a bunch of key customers to the likes of Microsoft or Google. There really isn’t an exit strategy for these guys.