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

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. Today—after working for seven agencies in five states—I am now head of brand strategy and creative direction at Bonehook in Portland, Oregon.