A “source close to Glam” tell us that a report about the women’s advertising network’s fund-raising efforts, which we picked up yesterday, isn’t accurate. Valleywag reported that rather than the $200 million and the $1 billion valuation the company had been looking for, Glam will have to settle for a raise of $30 million to $100 million, and a valuation in the $400 million range.
Writes our Glam-knowledgeable correspondent: “Glam never sought a 1B valuation. It was getting a 350-450M valuation from the outset. The pricing is coming in at the higher end of the level, not lower. Also, Glam was seeking 50-100M in equity and is comfortably being able to raise that.” If we were going to quibble, we’d note that when we talked to Glam’s Samir Arora in August, he didn’t complain about reports that placed Glam’s valuation at “$600 million or more”. We hope to ask Samir about it ourselves in the near future.
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