Blog Bucks June 26, 2006Posted by rajAT in blog, bloggers, entrepreneur, startup, vc, venture capital.
As the print media ponder the possibilities presented by blogs, some journalists are raising money to turn their own independent blogs into businesses.
The latest example is, Rafat Ali, the publisher of PaidContent.org and two other news and analysis sites, MocoNews.net and Contentsutra.com, focused on digital media and other high-tech trends, has raised money to expand his Web-publishing business from venture capitalist Alan Patricof.
The financing, though small in comparison with most Web deals, is one of several in recent weeks that indicate optimism on the part of early-stage investors in the viability of blogs as an outlet for journalism, rather than the gossip and personal opinion that characterizes much of the medium.
Mr. Ali started PaidContent.org four years ago when he couldn't find work after two publications he wrote for, Inside.com and Silicon Alley Reporter, shut down. His site has since developed a following among people interested in how the Internet and other technologies are affecting the media business.
I met Mr. Rafat at a mixer in New Delhi in December. At that time Mr. Trehan, VP Indiatimes, mentioned that Rafat is a million dollar guy. AOL purchase of Weblogs Inc. was still wet and all professional bloggers were eyeing similar deals. Rafat and team continued their good work and now this deal can go along way in building PaidContent a big money spinner.
Between did I mention that ContentSutra was the first professional blog I started reading way back in 2005 (internet years 😀 ). And it openned the doors of a whole new world. Thanks Rafat and all the best.