GLAM MEDIA ANNOUNCES $18.5 MILLION IN SERIES C FINANCING
CNET Chairman and E.W. Scripps Board Director Jarl Mohn Joins Glam Media
NEW YORK - December 14, 2006 - Glam Media, a fashion and lifestyle online hub, today announced it has received $18.5 million in Series C funding led by Duff Ackerman & Goodrich Ventures (DAG), with participation from existing investors Accel Partners, Draper Fisher Jurvetson, WaldenVC, and Information Capital. The additional capital will be used to accelerate the growth of the largest fashion and style network on the Web and expand its sales and editorial teams. In a separate release today, Glam Media also announced that CNET chairman Jarl Mohn is joining Glam Media as an investor and strategic advisor.
Glam Media, the fastest-growing women’s Web media property, is composed of fashion, beauty, and lifestyle channels with more than 200 Glam-owned and affiliate partners web sites; GlamSpace, the first social network for fashion and style; and GlamCentral, which ranks and searches fashion and style blogs. Both traditional and indie publishers leverage the site’s interactive channels, access to advertisers, and online network marketing to reach audiences in new ways.
“In one year from launch, Glam Media has created a unique online media company reaching over 7 Million unique visitors a month,” said Samir Arora, chairman and founder of Glam Media. “Glam’s vision is to bring together the best content from traditional and indie publishers with emotive brand advertising to create the first contextual Web network.”
“Glam Media is at the forefront of a shift in digital publishing, and we are delighted to be backing one of the fastest-growing Web media properties,” said John Cadeddu, manager director of DAG Ventures. “With over 50 percent growth quarter over quarter, Glam has created a highly desirable new Web 2.0 business model.”
“Creating the next-generation leading women’s and lifestyle web site is a compelling offering and one the market is really responding to,” said Theresia Gouw Ranzetta, general partner of Accel Partners. “The Glam network model, serving up high-CPM-rich media ads, delivers the kind of contextual advertising brands have been starved for. Glam represents the new media model at its best and has a team in place to successfully execute on its vision.”
About Glam Media
Glam Media is the fastest-growing fashion and lifestyle Web property targeting women worldwide. Glam Media currently has more 7 million unique visitors a month and is a top 10 women’s Web property, as measured by comScore Media Metrix. Glam Media allows people to easily browse content by channels-fashion, beauty, and lifestyle-from leading magazines, indie publishers, and consumers. Glam Media is backed by the blue-chip venture-capital firms leading the New Media wave: Accel Partners (Facebook, BrightCove,) Draper Fisher Jurvetson (Skype: eBay, Technorati), Walden Venture Capital, and Information Capital (Tickle/eMode: Monster).
Editor’s Note: In a separate release today, Glam Media also announced a partnership with Hearst Magazines to bring articles from their popular magazines, starting with Marie Claire, to Glam.com.
Contact:
Dan Klores Communications
Mario Ruiz
mario_ruiz@dkcnews.com
212-981-5156
Caroline Hacker
Glam Media
caroline@glam.com
650-244-4000 x242 Direct
703-635-8308 Cell