PayPerPost Gets $7 Million in Funding
PayPerPost is the leading marketplace for advertisers to reach out for bloggers and other consumer content creators. The concept behind PayPerPost is very simple ” You get paid to blog about things you love” where bloggers and web admins can review products, websites, services, companies and in turn get paid for their review. Companies get the feedback and buzz and traffic from your blog and you get paid to blog.
Now, PayPerPost is turning on the heat and is definitely on pace to become one of the hottest startups when it raised a further $7 Million of second round investment led by Draper Fisher Jurvetson. This round of financing brings the total amount raised by PayPerPost to over $10 million, giving the company further leverage for further development of the consumer generated advertising marketplace.
This additional funds leads to promotions like Lucky 7s where they are generating further buzz for the company. PayPerPost is running this promotion for a week from July 12th and they are releasing $7 of the $7 Million for PPP opportunities. These opportunities could be $10.77 or $70 or $700 and are open to everyone, not dependent on your blog ranking.
This additional financing could pave for more promotions and bring in increased awareness of PayPerPost and help consolidate their market share in the Paid Blogging arena. While PayPerPost boasts of nearly 28000 bloggers in its network, it is the higher ranked blogs which make a difference. This additional money and promotions will definitely help keep blogger goodwill with PayPerPost.
Following is the Press release announcing the $7 Million in Funding for PayPerPost
Press Release:
The PayPerPost Revolution Accelerates, Sponsored
Blogging Marketplace Secures $7 Million Series BDraper 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.
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