Glam Media to expand globally, secures $64.6 million funding
Glam Media has launched Glam International which will advance Glam Media’s worldwide development. In 2008, the company will create local operating companies in key markets outside of North America, including the United Kingdom, Germany, France and Japan. Glam Media also revealed that it has raised $64.6 million in strategic financing with Hubert Burda Media, GLG Partners, Duff Ackerman & Goodrich Ventures, Accel, DFJ, Walden Ventures and Information Capital, and an additional $20 million in debt financing by Hercules.
Glam Media enters the U.K. market as the category leader for women, according to comScore Media Metrix with more than 4 million unique visitors in the U.K. in January 2008-ahead of NBC unit iVillage with 2.8 million uniques and CondeNast’s CondeNet at 1.3 million unique visitors. Glam also announced today that Shiny Media, one of the U.K.’s leading Web 2.0 media content companies with titles that include CatwalkQueen.tv, Shoewawa.com and Hippyshopper.com, has joined the Glam Publisher Network. This addition further widens Glam Media’s lead as the category leader for women for U.K. brand advertisers and provides a strategic opportunity for Shiny Media both to expand its U.S. network and further monetize its female-focused lifestyle and fashion web sites.
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