Updated: Sports Blog Site SBNation Gets $8 Million More, From Comcast And Others
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Sports blogs and community site SBNation, founded by former AOLer Jim Bankoff, has raised about $8 million in its second round of funding, according to an SEC filing that just came out (embedded below). Not yet known: who they raised it from, but we’ll add it when we get the info from the company. Update: We have found out from a source that the round was led by Comcast Interactive Capital, the venture arm of Comcast (NSDQ: CMCSA), and previous investors Accel, Allen & Co and Ted Leonsis re-upped. The valuation for this round was a little under $30 mil, according to our source. Also, the filing has a $500K figure to buy back some stock: the money was used to buy out some angel investors, the source says.
Previously the company had raised a $5 million round last year, from Accel Partners Allen & Co., Ted Leonsis, Dan Rosensweig, Jeff Weiner, football-player-turned-PE manager Brent Jones, and execs from Providence Equity Partners, where Bankoff was previously an adviser.
SEE ALSO: SB Nation Got $5 Million In Funding For Sports Blogs
Launched in 2003 by DailyKos founder Markos Moulitsas (who is on the board), Washington DC-based SB Nation is made up of over 200 sites around regional sports teams like BehindtheSteelCurtain, for the Pittsburgh Steelers, and AthleticsNation, for the Oakland A’s. Earlier this year it did a deal with Yahoo Sports in which SBN community sites are featured in relevant areas of the Yahoo (NSDQ: YHOO) site.
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Posted In: Entertainment, Sports, Money, M&A & Venture Capital, Venture Capital, Social Media
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