PayPerPost Adds $7 Million to its Aresenal
PayPerPost the leading online service provider that connects advertisers with bloggers just got a bit stronger today. PayPerPost has announced an additional 7 million dollars in investment support from Draper Fisher Jurvetson, Inflexion Partners, Village Ventures, and a new investor DFJ Gotham. The new investment money comes in on top of $3 million dollars that has already been invested in the growing online company. PayPerPost admits it has not used up the total funding of the first round of investments, and this latest news only gives the company a much more stronger hold on the market.
The company already has over 28,000 bloggers that are getting the advertisements out to the people online. The bloggers have been using a code of blog ethics, that allow them to only take advertisements that are related to their blogs. All the bloggers also include a disclosure policy on all their blogs, to let their readers know that they do take paid sponsors from time to time on their blogs. Since PayPerPost has these 28,000+ bloggers already, then they have over 28,000 bloggers to help introduce new bloggers to the “paid to blog” system. All the bloggers under their control right now will only help the company to grow more, as they introduce this to their friends, family, and co-workers. It would probably make the most sense for PayPerPost to take their new investment money, and concentrate it on new sales people for the company. Increasing their sales staff will help boost the number of advertisers they have, which is already over 6,500.
If the company can only maintain half of the enthusiasm and energy CEO Ted Murphy has for the company. Then it’s just a matter of time that the name PayPerPost will be as well known as Google, Yahoo, Ebay or any of the other popular online companies that you hear about today.
PRESS RELEASE FROM PAYPERPOST
The PayPerPost Revolution Accelerates, Sponsored
Blogging Marketplace Secures $7 Million Series B
Draper Fisher Jurvetson leads round and joins Board of Directors
ORLANDO, FL – (June 12, 2007) – PayPerPost, the leading marketplace for advertisers to reach bloggers and other consumer content creators, today announced it has completed a $7 million second round investment led by Draper Fisher Jurvetson, an investor in the company’s Series A and one of the world’s leading high-technology venture capital firms. The financing brings the total amount of capital raised by PayPerPost to over $10 million, giving the company considerable resources for further development as the industry’s leading Consumer Generated Advertising marketplace. Additional participants in the round include existing investors Inflexion Partners and Village Ventures as well as new investor DFJ Gotham. With this investment, DFJ Managing Director Josh Stein also joins PayPerPost’s Board of Directors.
“PayPerPost created this exciting new advertising space and has established itself as the industry leader,” said Ted Murphy, chief executive officer of PayPerPost. “Although we’ve only used a portion of our first round capital, this added support from investors unlocks significant growth potential. Our content creator and advertiser ROI metrics clearly demonstrate the upside for PayPerPost’s model. We intend to use this capital to build the infrastructure, visibility and professional expertise necessary to reach and retain a greater network of advertisers and content creators than ever before.”
Since its founding in June of 2006, PayPerPost has signed more than 6,500 advertisers to its groundbreaking service, which has enabled Consumer Content Creators to be compensated for their efforts discussing specific companies, products or services via blogs, videos or other media. The content creators are required to disclose relationships with advertisers on their blog, providing transparency for the end reader. Over 125,000 Internet postings, most in the form of blogs, have already earned money for their creators through PayPerPost’s innovative marketplace. PayPerPost recently released PayPerPost Direct, a disruptive new service that allows advertisers to contract and negotiate directly with individual bloggers they identify through a safe, managed system.
“PayPerPost has laid a strong foundation for the future,” noted Tim Draper, founder and managing director of Draper Fisher Jurvetson. “It continues to attract a critical mass of participants from both the advertising and blogging communities. Analogous to Overture’s sponsored search model, we believe PayPerPost’s business model holds disruptive potential and will enable the company to thrive in the evolving paid-content arena.”
To mark the $7 million dollar funding, PayPerPost has launched a new website detailing the company’s service offering at http://payperpost.com/. Bloggers and advertisers can easily sign up at the site and begin leveraging the self service marketplace.
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