Posted by Tom Foremski - August 21, 2006
Better late than never, The Deal on VC investment in GigaOm and Huffington Post:
Increasingly viewed as an alternative to traditional mainstream media, the blogosphere is variously regarded as more opinionated, faster-moving and less factually reliable than other outlets, including an older generation of online journalism. As Softbank's Eric Hippeau pointed out, the popularity of blogs may hold clues to how news will travel in the future.
' We view this as an investment in a news site,' said Hippeau, whose firm invested alongside Apax Worldwide Partners LP co-founder Alan Patricof. ' we think the news of the future will look like the Huffington Post. It includes breaking news, instant commentary, blogs and community, with a comments section that can be almost like a mini-blog.'
But why sell to investors? SVW will likely raise the same amount of money as GigaOm this year but from sponsors. No need for cuckoos in the nest (on the board :-)Tweet this story Follow @tomforemski
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