PayPerPost Secures Another Round
PayPerPost never ceases to be controversial and the announcement of securing $7 million in funding has simply brought on another round. I haven’t read many reviews, but I hope people can stop questioning various bloggers blog ethics. Since when is earning money selling your soul? I for one am very happy for Ted Murphy and the rest of the PayPerPost gang, $7 million simply means more growth all the way around! I’m not sure what PPP is allowed to do with the funding they raise, but I hope they are able to hire more people, find more advertisers and take a break! Of course maybe the hiring of more people will leave others the chance to take a breather. The Postie group has grown to 28000 bloggers, with that large of a marketplace one would think any advertiser would quickly jump on board.
A part of the announcement has been PPP offering various new opps as part of their Lucky 7s promotion. And what great timing for a fun contest – as today is my birthday! The Lucky 7s promotion includes opps open to everyone for $10.77, $70, and $700 and runs between today and next Tuesday. PayPerPost also relaunched their website which highlights the various features very well. The official press release follows:
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://www.payperpost.com. Bloggers and advertisers can easily sign up at the site and begin leveraging the self service marketplace.