Newest info on the are-they/aren’t-they rumours about ad network Federated Media, and its attempts to raise money and/or sell itself: PE Hub says John Battelle’s company has raised “between $40 million in $50 million” in Series C funding that values the company at $200 million, pre-money. Oak Investment Partners is supposedly leading the round, and existing backers Omidyar Network are supposed to be reupping.
FM, which sells ads on behalf of professional bloggers (disclosure: SAI is an FM client), has been the subject of a series of stories speculating that the company was either raising money at a sky-high valuation or trying to sell itself for a ton of dough. Or both.
Last month VentureBeat reported that the company was raising $30 million for that same $200 million valuation. PE Hub’s Dan Primack reports that FM generated $27 million in revenue last year and is aiming for $60 million this year.
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