Glam Media gets $84M to become the belle of the online media ball

Women's Web site Glam Media Inc. announced Monday that it has raised $84.6 million to boost the growth of its distributed media network.

The round, which consists of $64.6 million in Series D equity and $20 million in debt financing, was led by strategic investor Hubert Burda Media. Also investing were GLG Partners and Duff Ackerman & Goodrich Ventures, and insiders Accel Partners, Draper Fisher Jurvetson, Walden Ventures and Information Capital. Hercules Technology Growth Capital provided the debt financing.

The company, which brings together hundreds of lifestyle Web sites, secured $18.5 million in a December 2006 third round that gave it a post-money valuation of nearly $150 million.

While the valuation has surely skyrocketed for the fourth round, the deal may have fallen short of the company's ambitious goals. Glam was reportedly hoping to raise $200 million last fall in order to better compete with NBC Universal Inc.'s iVillage. - George White

See Feb. 25 press release from Glam Media
See August 2007 post from Tech Confidential
See December 2006 story from TheDeal.com

For more, see The Social Times and Ajax Blog

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