FM Publishing announced a $2.2 million Series A round of financing, led by JP Morgan Partners. Previous investors also participated – Omidyar Network, The New York Times, Mitchell Kapor, Andrew Anker, Mike Homer, and Tim O’Reilly.
I am a member of FM Publishing’s ad network, and have been extremely pleased with their ability to generate revenue as well as their technical assistance and general therapy sessions when I get the blogging blues. Congratulations to John Batelle, Chas Edwards, Andre Torrez, Jason Weisberger, Jennifer Charette and the rest of the team at FM.
This is probably the future of advertising. Good Concept!
Why would a publishing house need VC funds. If they’re high flying, why do they need cash? Do they need cash to manage a negative cash flow? Just seems odd.
wow, that pretty good
Saul,
Agencies are notoriusly slow in paying their bills… Any ad network worth its salt has to be able to hold substantial recievables and still continue to pay their publishers. There are months when they get tied to a tree and beat with a shovel.
Just my take.
You think they’re taking VC money to cover AR???
That seems like an extreme solution to the problem.
I don’t know that covering AR is the impetus, but doing it solo definitely hamstrings the ability to operate and develop.
And it IS a bigger problem than you might think… Ad networks live and die with their publisher relationships and need to keep them solvent through thin quarters.