PayPerPost has just raised another $7 million in Series B funding making it the first get-paid-to-blog company with over $10 million in capital. This second round investment was led by Draper Fisher Jurvetson, an investor in the company's Series A and later joined the Board of Directors. Congratulations, PayPerPost.
Below is the Press Release:
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.
The existing PayPerPost’s advertisers are mostly U.S. and European based, thus, personally I think it would be a smart move for PayPerPost to expand the market to other regions, for example Asia Pacific. With that amount of funds in capital, PayPerPost should really consider setting up offices in Asia Pacific region to sign up more advertisers from Asia Pacific as well, so that more and more advertisers and bloggers would benefit from the expansion.
For those who still don’t know much about PayPerPost, PayPerPost, founded in June 2006 by Ted Murphy, is the leading marketplace that connects advertisers with bloggers that pays you to write reviews, opinions or ideas about the advertisers’ products and services. In less than a year, PayPerPost already created buzz in the blogging world and has signed more than 6500 advertisers and growing.
In conjuction with the overwhelming funding results, PayPerPost rolled out a 7-day promotion called “Lucky 7’s”. This hot promotion is already rocking and it will end on the coming Tuesday (June 20) noon. During this period, PayPerPost will release several opportunities with pay rate of $10.77, $70 or $700!! These opportunites will not be segmented and are available to all registered users.
For bloggers who have yet to sign up for PayPerPost, what are you waiting for? Sign up today and join the celebration, who knows you could be the Lucky 7’er who grabs the $700 opportunity. For advertisers who are not familiar with PayPerPost yet, PayPerPost provides a handy blogger directory from where you can find a blogger for hire to review or promote your product, service or even website.