John Battelle’s Internet ad network Federated Media is close to raising $30 million in financing at a $200 million pre-money valuation, according to a “well-placed source,” VentureBeat reports.
We’ve been hearing noise about FM’s fundraising for several months. In January, the company confirmed that they’d hired investment bank Savvian to “assess investor interest” and to “be ready to quickly arm the company with additional capital.” One TechCrunch report said the company turned down a $100 million offer.
Earlier this month, CNET reported that FM was looking to raise a $20 million to $30 million round of funding. FM’s last round — $4.5 million last summer — included investments from JPMorgan Partners and Omidyar Network.
Disclosure: SAI — and, while we’re at it, TechCrunch and VentureBeat — are FM clients.
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