MOCHILA ANNOUNCES $8 MILLION SERIES B ROUND OF FINANCING
Charles River Ventures, Mission Ventures,
The Greenspun Corporation and Jerry Colonna
Invest in Online Media Marketplace
New York City, NY (January 2, 2007) –Mochila, the first global online media marketplace for print, audio, video, and photo content, announced today that it has secured $8 Million in Series “B” financing.
Charles River Ventures, located in Waltham, MA, led the round, while Mochila’s previous investors: Mission Ventures, The Greenspun Corporation, and Jerry Colonna also participated.
“We’re proud that so many of the world’s top newspapers, magazines, wire services and websites have joined Mochila,” said CEO Keith McAllister. “We are very pleased that Charles River Ventures—one of the nation’s most distinguished and successful venture firms—is joining Mochila’s already strong investor syndicate and we look forward to taking Mochila to the next level.”
“Mochila has seen incredible market interest since its launch less than a year ago,” said Austin Westerling, a Partner with Charles River Ventures who will be joining Mochila’s Board of Directors. “Historically, high-quality content such as images, articles and video has been locked in the proprietary channels of the content creator. Mochila’s web-based platform opens up an enormous market by enabling that content to be safely syndicated across the globe.”
Mochila came out of stealth mode less than a year ago in April 2006 and has not looked back since then with over 100 of the biggest and most powerful publishing companies in the world that currently own and operate more than 1,500 newspapers, magazines, wire services and websites combined. Key members include:
- Advanstar, Editora Abril, Editora Globo, Entrepreneur, ESPN Desportes, Future, Hachette Filipacchi Media US, Hearst Magazines, New York Magazine, Publishers Group of America, Scientific American, and Working Mother Media
- Freedom Communications, Gatehouse Media, The Mainichi Newspapers, MediaNews Group, and Metro International
- The Associated Press, L.A. Times/Washington Post News Service, DPA, EFE, El Universal News Agency, GDA, Rasmussen Reports, and Ria Novosti
- MSNBC.com, CNET Networks, and iParenting.com
Mochila (www.mochila.com) is the world’s only syndication service to allow editors the ability to easily and instantaneously acquire the highest-quality rights-managed content a la carte and on-demand. Mochila provides simple but powerful tools for content sellers to set licensing rules, including pricing, embargoes, exclusions and other business terms. Mochila gives content sellers the ability to easily reach new markets while protecting their current business relationships.
Mochila members can also choose to earn advertising revenue through its unique online ad-supported model, Mochila AdMatch. With Mochila AdMatch, content is free and advertising revenue is shared by the buyer, content owner, and Mochila. Currently, ads are provide from Mochila’s ad network partners, 24/7, Quigo and Tacoda..
And all these services are also available to Spanish-language media around the world through Mochila Espanol.
Mochila, the world’s first and only online media marketplace, where members can Buy, Sell, and Earn.
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About Charles River Ventures
Founded in 1970, Charles River Ventures (CRV) is one of the oldest and most successful early-stage venture capital firms with nearly $2B under management. CRV is dedicated to helping exceptional entrepreneurs turn their ideas into the next category leaders in the data communications and software and services sectors. The firm’s investment returns are consistently among the highest of any venture capital firms. This superior investment record includes leading companies such as Cascade, Chipcom, CIENA, iBasis, Sybase, Sonus Networks, SpeechWorks International and Vignette. CRV has offices in Boston and Menlo Park, Calif. For more information, visit www.crv.com.
About Mission Ventures
Mission Ventures helps build successful enterprises in Southern California and creates superior returns on investment for its investors. This is accomplished by investing in the most promising early-stage companies in high growth, emerging markets, and providing significant assistance to those companies as they develop. The Partnership brings value-added capital, experience, management talent, and guidance to the most outstanding and innovative ideas and entrepreneurs in the region.
About The Greenspun Corporation
Greenspun Media Group is a diversified media, Internet, and broadcasting group owned and controlled by The Greenspun Corporation and family located in Las Vegas, Nevada. The Greenspun Corporation also controls and operates other businesses in and around Las Vegas including real estate holdings in office, retail and gaming, and a real estate development company. The Greenspun Media Group produces a number of newspapers and magazines including Vegas Magazine, Las Vegas Magazine, Showbiz Weekly, Las Vegas Life, Vegas Golfer, In Business Las Vegas, Las Vegas Weekly, the Henderson Home News, the Boulder City News, the Green Valley News, the South Valley News and the Ralston Report. GMG is the largest magazine publisher in the state.
About Jerry Colonna
A writer, investor and consultant, Jerry Colonna is a recognized expert in organizational development and entrepreneurialism. He is currently a partner with J.P. Morgan Partners (JPMP), the private-equity arm of J.P. Morgan Chase. Prior to joining JPMP in 2002, Colonna, with his partner, Fred Wilson, launched Flatiron in August 1996 which became one of the most successful, early stage investment programs. He joined his first venture firm, CMG@Ventures L.P. (“@Ventures”) in February 1995 as a founding partner. He previously worked at CMP Media Inc for 10 years. From 1985 to 1993, Colonna served in a variety of roles at InformationWeek, including a three-year stint as its Editor. Colonna currently serves on the boards of directors of PlanetOut Inc. (NASDAQ: LGBT), Answers Inc. (NASDAQ: ANSW) and Mochila, Inc. Colonna also serves as a director of a number of non-profit organizations including NPowerNY Inc. (which he helped found in 2000), The Queens College Foundation, Kripalu Center for Yoga and Health in the Berkshires, and Shambhala Mountain Center.
Contact
Rosemary R. Raposo
Four Corners Communications Incorporated
212-849-8261
rosemary@four-corners.com
