Federated Media Has Cash On Hand

Forbes reports that Federated Media locked down a round of funding from Panorama Capital, JP Morgan’s venture capital arm. Explaining the deal, FM’s John Battelle says:

Choosing who you partner with, in terms of finances, is really critical to a business. I chose to partner with someone I’ve had a long history with, who stood behind me at a really dark hour. I figured, all things being equal, go with somebody who believed in you in the past and wants to believe in you again. I didn’t go shopping this deal across Sand Hill Road. I went with a partner where the guy who’s coming on board is a really great guy, someone I’ve known for a while. I’m on my way to do baseball practice with him right now. I’m the manager of his kid’s team. You can’t really buy that.

About David Burn

Co-founder and editor of AdPulp. I wrote my first ad for a political candidate when I was 17 years old. She won her race and I felt the seductive power of advertising for the first time. I worked for seven agencies in five states before launching my own practice in 2009. Today, I am head of brand strategy and creative at Bonehook in Portland, Oregon.