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Rumor: Federated Media Raises $50 Million
Eric Eldon at Venture Beat is reporting on a rumor that ad network Federated Media has raised $50 million in venture capital on a $200 million valuation. Eric told me the source is solid but of course take all rumors as just that. To-date Federated Media has raised just over $7 million including $4.5 million last August.
Eldon notes regarding Federated Media’s (FM) income statement, "The Sausalito, Calif.-based company generated roughly $20 million to $23 million in revenue last year (not profit), according to one of the sources. Both sources say that FM is on target to make around $60 million this year, with some profit."
FM has done an amazing job of signing on the top blogs and Web sites and has pushed the envelope (and asked for forgiveness). All of the Web 1.0 ad networks that are still around could learn a few things from FM.