Federated Media, which offers advertising sales and publishing services to a network of blogs (including SAI), is seeking to raise a $20 million to $30 million second round of financing, according to CNet. The funding would add to a $4.5 million earlier investment by JPMorgan, The New York Times, and the Omidyar Network.
Federated has about 55 current employees but plans to expand — and wants the capital to invest during what could shape up to be a sluggish ad environment in the coming year.
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