Battelle Reportedly Turns Down $100 Million Offer For Federated Media
Blog ads are worth big bucks! How big? We may see soon: John Battelle has turned down a $100 million offer for Federated Media, TechCrunch's Erick Schonfeld reports. Yesterday, Battelle confirmed he has hired Savvian, an investment bank, but didn't offer details -- fundraising, selling out, etc.?
From an email Battelle sent to (some of?) his publishers, via VentureBeat:
Earlier: Federated Media Looking For Funding?
From an email Battelle sent to (some of?) his publishers, via VentureBeat:
“I don’t know if anything will come of this process, but I do know that as a fast growing business, it’s always smart to assess investor interest, and to be ready to quickly arm the company with additional capital to do new things and continue to accelerate our growth, should that option prove attractive.”Disclosure: Silicon Alley Insider is a Federated Media client.
Earlier: Federated Media Looking For Funding?
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The business is worth multiples of the bid. Unless John wants out, he should be looking at a much larger offer.