Here’s a nice example of the lengths companies (and bankers) will go to to airbrush themselves. Judging from the poetic licence Glam’s bankers (Bank of America and Allen & Co.) have taken in a leaked pitch-rag, Glam is marketing its $200 million private placement to people who don’t know the difference between a “property” and an “ad network.” And who would those people be? Executives at traditional media companies, presumably–so desperate to cash in on the Internet boom, Glam hopes, that they won’t bother with such annoying details.
–Bank of America and Allen & Co. say “Glam is the No. 1 women’s web property”
–TechCrunch says Glam is a sham.
–VentureBeat says Glam is kind of a sham but is still signing some big ad deals.
–NBC says “If we’re the sucker who invests $200 million in Glam, we swear we won’t make the same mistakes we made with iVillage.“
Why is Glam’s logic about being the “biggest women’s web property” so bogus? Because by the same logic, ad network BlueLithium would be bigger than Google, AOL, and MSN.