b5media Takes $2m in VC Funding

It looks like getting blog networks off the ground might be an area for venture capitalists, as b5media, a well known blog network secures itself $2 million in VC funding.

b5media Inc. (“b5media”), a global new media network, has raised US$2-million of equity financing in a transaction co-lead by Brightspark Ventures and J. L. Albright Venture Partners. The funding will strengthen the company’s network of bloggers to create greater value for readers and advertisers.
“There are tremendous growth opportunities and we plan to expand strategically to appeal to a broad market,” said Jeremy Wright, president and chief executive with b5media.

“We are working in a fantastic industry. In the year since we launched, we have made major progress attracting readers to our high-quality content, which is produced by an engaged and excited group of bloggers. The extra resources now available to us will only increase these areas as key strengths of b5media going forward.”

It will be interesting to see if they use the money to hire some of their better writers on full time.

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b5media Takes $2m in VC Funding

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