Digital media company Glam Media has raised $25 million in new funding, according to an industry source. (The company declined to comment.)
My source said this is a “top up round” for Glam — in another words, some extra cash to keep the company going while it goes through the IPO process. Business Insider reported back in February that Glam (which runs a number of lifestyle-focused sites including Glam and Foodie, and runs advertising across a broader network of publishers) had filed for an IPO, using a provision in the JOBS Act to initially keep the filing secret.
Glam previously raised more than $150 million in equity funding, as well as $20 million in debt, most recently in a $50 million round that valued the company at $750 million. After raising all that money, it acquired social network builder Ning for what my old editor Erick Schonfeld heard was $150 million in cash and stock.
With about 450 employees currently, Glam is also hiring — there are more than 35 jobs listed on its careers page, but my source said the number of openings in the US alone is actually more than 90.
Powered by WPeMatico