“Would would you do if someone approached you with $1.3 billion?” That was the second attempt Rafat Ali, publisher & Co-Editor, ContentNext Media, paidContent’s parent, put to Samir Arora, founder, chairman & CEO, Glam Media, about swirling acquisition rumors at our EconAds Seminar. Arora batted the question back again, offering the boilerplate reply of “We don’t comment on rumors… Is this the end of the interview or the start?”
– International expansion: Back in February, Glam raised a huge $84.6 million — $64.6 million in fourth round venture funding and $20 million in revenue-based debt financing. Why so much? First, the company needed to support its international expansion. Arora, who later emphasized his attempts to instill a greater level of discipline: “Secondly, we wanted to look at other verticals that would complement Glam’s properties. The third was tech development. I immediately put a hiring freeze and have put a hold on M&A considerations. We’re trying to build slowly.”
– Looking at health and entertainment: Bulk verticals, because it appeals to men and women. Also, earlier in the day, Glam Media hired Mike Meyers from rival SheKnows.com to run its new family-focused channel. “We tried to buy the company two years ago and we actually developed a good relationship instead with Mike.