Written on June 26th, 2006 at 03:06 pm by Darren Rowse
Blogger, Rafat Ali, Raises VC Dollars
Yet another blogger, Rafat Ali from Paid Content, has raised Venture capital for his blogging business according to his announcement post today.
Rafat explains the investment saying that the investment comes from Alan Patricof and that the amount will not be disclosed.
What will Rafat do with the invested money?
“We’ll be hiring a journalist in NYC, starting our UK vertical, launching a redesign of all our sites, hiring more staff for operations and sales, bringing on interns, planning more industry mixers and developing conferences, starting our research arm, and more.”
Found via the WSJ (subscription required) which reports that the investment is lower than $ 1 million.
9 Responses to “Blogger, Rafat Ali, Raises VC Dollars”
Rafat Ali Gets First Round Funding - Bloglogic.net
June 26th, 2006 4:19 pm
[...] [Source: paidContent.org Via: Problogger] [...]
John Evans (Syntagma)
June 26th, 2006 7:06 pm
Rafat may be a great blogger, but he clearly has no idea about money. Personally, I wouldn’t begin to implement his outlined plans on less than $10m.
razib
June 26th, 2006 9:15 pm
I agree with here John too that $1 million is too little amount of money to implement such a grand project. HOwever, in my own life I have seen tha hard work and dedication can often cover up the shortage of money. So, I am hopeful that Rafat will shine.
graphic designer
June 26th, 2006 10:53 pm
Well I think with a “Good Plan”, $1m is good enough.
Surely the trend is that every new idea is kept under “Criticism”.
Alex Tew of million dollar home page is an example.
Darren Rowse
June 26th, 2006 11:27 pm
I don’t see a problem with $1m. From what I see, most VC situations take on different rounds of investment at different times. $1m is a great start and would definately take any blogging operation to the next level.
John Evans (Syntagma)
June 27th, 2006 4:17 am
Hmmm, it’s all that staff that adds to the costs. Look at the personnel he’s planning to hire. If a second stage of funding doesn’t materialize, he’s in real trouble.
Stuart
June 27th, 2006 6:01 am
John - you need staff to produce the content to make you the money. With a little luck those extra staff will pay for themselves.
John Evans (Syntagma)
June 27th, 2006 6:27 am
Stuart, with the dollar low in the markets and a UK operation to fund, he must have a lot of own resources to back this up. He’s very successful as it is, so maybe that’s the answer.
Darren Rowse
June 27th, 2006 10:11 am
I think Stuart is right. If he puts on an ad sales person and the income that that brings in will fund a lot.
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