Glam Media Raise $85 Million in Financing
It has been reported by the WSJ and Techcrunch that Glam Media has just taken $85 million in financing. To-date Glam has raised over $115 million over four rounds. Investors included Hubert Burda Media, GLG Partners, Duff Ackerman & Goodrich, Hercules Technology Growth Capital, Accel, Draper Fisher Jurvetson and Information Capital. The valuation, as expected, was in the half billion dollar range.
Glam Media are still yet to get into the profit range, in 2007 they lost around $3.7 million on $21 million in revenues and project for 2008 will be their first year in profit, $40 million profit on $150 million revenues. This seems to be to be quite a large jump for Glam and im not too sure if these figures for 2008 are too pessimistic.
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