Tuesday, June 12, 2007

PayPerPost Secures $7Million!

Wow, that is a huge amount of money! It was announced yesterday that PayPerPost has secured $7 million in additional funding from investors, led by Draper Fisher Jurvetson! I think, after only a year, and to have this kind of investment being made in your can pretty much count on ted murphy, PayPerPost CEO, being a solid businessman, and all around smart guy!
Here is the official press release:

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 Bloggers and advertisers can easily sign up at the site and begin leveraging the self service marketplace.

I wonder what they will do with all that money? They have just redesigned their entire website, so that is a start. With more than 6500 advertisers and over 25,000 bloggers (affectionately dubbed "Posties")..I hope they secure more advertising so all of the bloggers can make even more money! And I am talking GOOD opps, like the Universal Music and movies opps they have been releasing..stuff that is fun to work with! Maybe they will have more giveaway related opportunities for the Posties! They did an entire month of HDTV Tuesday's, who knows what kind of cool goods they can give away to the Posties with all that money invested! OR, maybe Ted will take some of that money and finally hire Snoopy to be the PayPerPost Poster Pooch! That's taking your P's to the 5th Power, Ted...C'mon! Whatever they do, I know for sure it will be fun to sit back and watch it all unfold! I know that ted murphy and all of the folks over at PayPerPost love their Posties, and will ensure that the love gets spread out amongst the masses! What are you waiting for? Click the link on my sidebar and you can join the PayPerPost team and make money blogging like the rest of us!


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