Homepage Site Freewebs Gets $11 Million First Round Funding; Buys Mad4Milk.net


The Silver Spring, MD-based online homepage firm Freewebs has closed an $11 million first round of venture capital from Novak Biddle Venture Partners and Columbia Capital. The company says more than 10 million users have chosen the company’s free and for-pay tools to create online blogs, photo albums and other online content.
The company received a $1 million bridge loan earlier this spring from early backers Bobby Yazdani, the founder and CEO of public company Saba Software, Silicon Valley venture capital firm Amidzad and Aydin Senkut, a former early Google employee. It’s unclear if they participated in this round.
The company has also acquired Mad4Milk.net, a developer of Web 2.0 apps. Freewebs plans to create an “online community” for developers who want to use the tool to improve Internet applications.
Freewebs has been around since 2001, and has made a number of senior hires from other bigger media/Internet firms.

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