Updated: Content Licensing Firm GumGum Officially Announces First Round
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Update: GumGum has officially announced the news, sans-price, naming First Round Capital and Crosscut Ventures. In addition, the company says it’s no longer using Flash technology, promising greater flexibility (and SEO), and that it has signed up a few Gawker Media properties (Gawker, Jezebel, Io9, Defamer) as customers. More in the release.
Original post on July 21: GumGum, a startup that helps companies monetize and license their content, has raised $500,000 from First Round Capital, as part of a planned $1 million first round, according to peHUB, citing a regulatory filing. The Santa Monica, CA-based startup offers a platform for licensing content using both a CPM and ad-supported model. Its emphasis is on licensing out photography, a tricky issue given rampant unauthorized reproduction of photos online. CEO Ophir Tanz was previously the CEO of Mojungle.
Disclosure: GumGum was a sponsor of our EconCeleb conference, on July 23.
Posted In: Money, M&A & Venture Capital, Venture Capital, crosscut ventures, first round capital
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