Rafat Ali, the founder and editor of ContentNext Media Inc., the Santa Monica, Calif.-based company that publishes PaidContent, Content Sutra and MocoNews has raised venture capital from veteran VC Alan Patricof’s new firm, GreyCroft Partners. The Wall Street Journal reports that the investment is less than $1 million. Mr. Patricof was original backer of Apple Computer and also the founder of New York magazine. In other words, he knows a good thing when he sees one.
“To start a magazine today would cost a minimum of $15 million to $25 million, and you have to spend through three or four years of losses,” Mr. Patricof said. With blogs, “the economics are a lot better.”
Rafat explains his reasons for taking the funding and his future plans on PaidContent. Rafat, a dear friend, has done a great job of building his empire. A lot of people can only see the success, I am privy to all the hard work that has gone into this venture. We have often commiserated on the lack-of-life of blogger-publishers. So Rafat — Congratulations! Okay now go write that next post!
5 trackbacks so far
1:08 AM PT
[...] has not been disclosed but Om Malik quoting The Wall Street Journal has written in his blog GigaOM that the investment is less than $1 [...]
3:13 AM PT
[...] reports are correct. And PaidContent is pitching for a second round in that same range (PaidContent raised a round of “less than $1 million” in 2006). We’re also hearing that PaidContent [...]
2:40 PM PT
[...] このごろブログがベンチャーキャピタルから資金を調達しようとする例が増えている。ブログから売り込みをかけられたベンチャーキャピタルの連中から聞いたのが正しければ―新参のSilicon Alley Insiderが$3 - $5M（300から500万ドル）のラウンドを狙っているというし、PaidContentも同額の資金調達を狙って運動中だそうだ。（PaidContentは2006年のラウンドで$1（100万ドル）弱を調達している）。 またPaidContentは$15M（1500万ドル）くらいで買収してくれる相手を探しているらしい。会社を売り払って小遣いを握って出ていこうとしているわけだ。 [...]
5:38 PM PT
[...] reports are correct. And PaidContent is pitching for a second round in that same range (PaidContent raised a round of “less than $1 million” in 2006). We’re also hearing that PaidContent is trying to [...]
12:53 PM PT
[...] reports are correct. And PaidContent is pitching for a second round in that same range (PaidContent raised a round of “less than $1 million” in 2006). We’re also hearing that PaidContent [...]