The PayPerPost Revolution Accelerates, Sponsored Blogging Marketplace Secures $7 Million Series B
Draper Fisher Jurvetson leads round and joins Board of Directors
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://www.payperpost.com. Bloggers and advertisers can easily sign up at the site and begin leveraging the self service marketplace.
PayPerPost is the leading marketplace for Consumer Generated Advertising. The PayPerPost platform connects advertisers with bloggers and other consumer content creators in order to develop and distribute compelling content throughout the blogoshpere and social networks. Advertisers compensate bloggers to promote their products, services and websites, providing bloggers with a way to monetize their blog and traffic unlike ever before. The company is backed by prominent investors including, Inflexion Partners, Village Ventures, DFJ Gotham and Draper Fisher Jurvetson. Join the PayPerPost Revolution at, www.PayPerPost.com.
About Draper Fisher Jurvetson:
Draper Fisher Jurvetson is the only venture capital firm with global presence through a network of affiliated funds, with offices in more than 30 cities around the world and more than $3.5 billion in capital commitments. DFJ's mission is to identify, serve and provide capital for extraordinary entrepreneurs anywhere who are determined to change the world. Over the past twenty years, DFJ has been proud to back approximately 300 companies across many sectors including such industry changing catalysts as Hotmail (acquired by MSFT), Baidu (BIDU), Skype (acquired by EBAY), United Online (UNTD), Overture (acquired by YHOO), Interwoven (IWOV), 411 (acquired by YHOO), Parametric (PMTC), and Digidesign (acquired by AVID). For more, please visit www.dfj.com.
About Inflexion Partners:
Inflexion Fund, L.P., "Florida's Venture Fund", is a seed and early-stage venture capital fund organized with an emphasis on company building and harnessing the regional, national, and international resources of the fund's managers and strategic partners. The managing partners of Inflexion leverage a mix of operating and venture experience in over sixty early-stage companies to back passionate entrepreneurs, build companies as a trusted partner and help founders turn their vision into reality. For more, please visit www.inflexionvc.com.
About Village Ventures:
Village Ventures is an early stage venture capital firm investing in exceptional entrepreneurs building information technology and life sciences companies in emerging domestic geographies. Village Ventures identifies promising investment opportunities in partnership with its nationwide network of 13 early stage venture capital funds that are focused on these emerging domestic geographic markets. The model combines local Partner Fund capital and hands-on investment practices with Village Ventures' centralized services and national network to help create compelling and innovative companies. For more, please visit www.villageventures.com.
About DFJ Gotham:
DFJ Gotham Ventures is a venture capital firm focused on early-stage technology companies primarily in the Northeast U.S. Since its first investment in 2000, DFJ Gotham has backed over 20 companies spanning a wide array of technology sectors. DFJ Gotham partners with extraordinary teams of entrepreneurs to build strong and successful businesses that make a huge impact in their industries. DFJ Gotham takes pride in being an active partner, leveraging its experience, knowledge and relationships to provide substantial value to its portfolio companies. DFJ Gotham is proud to have backed such category leaders as Massive (acquired by MSFT), XOsoft (acquired by CA), Q-Link (acquired by Adobe), Mimeo.com and ContextWeb, among others. For more, please visit www.dfjgotham.com.