UK’s Shiny Media secures $4.5m in funding

January 29, 2007 | By Andy Merrett | Filed Under Blog Networks

The UK’s Sunday Times newspaper yesterday broke the news that Shiny Media have secured US$4.5m worth of funding, thanks to Bright Station Ventures who now take a 50% stake in the company.

It sounds as if things have moved fairly quickly on this one. Though there’s an official announcement on Shiny’s blog, I believe there are still some final steps (probably including a certain amount of legalese) before the deal is completely sealed. But don’t quote me on that…

Ashley Norris, CEO of Shiny Media, writes:

We started Shiny with nothing other than some great ideas and a passionate belief in the potential of blogs. We now attract almost three million readers each month to our 22 sites, employ over thirty bloggers (some full-time, some freelance) and regularly attract big name advertisers.

We have come a very long way in a short space of time with no money. The investment will help us make some of more ambitious dreams realities.

Of Bright Station Ventures, The Sunday Times writes:

Bright Station Ventures, as the new firm is called, hopes to offer an alternative to traditional venture capital. Wagner said: “There are businesses that could have been massively successful but they were denied the resources to fast-track a fabulous idea. There’s got to be a different way of doing this.”

Dan Wagner - who apparently once turned down the opportunity to invest US$1m in a 30% stake of a fledgling eBay - set up Bright Station Ventures after raising $100m from wealthy contacts, and has partnered with Shaa Wasmund.

It’s encouraging that they’ve invested in a truly British company, given that the Sunday Times article suggests that they were previously ‘humiliated’ by a prospective UK investor. Hopefully, that’s all water under the bridge, and it’s onwards and upwards for both companies.


About the author: Andy Merrett has worked in a variety of commercial and not-for-profit organisations in both administrative and technical roles, including web and database development, systems analysis and programming. He is now a full-time professional blogger, writing on a variety of subjects including consumer technology, the Internet, music, and society. He currently works on a number of Shiny Media titles including Tech Digest, HDTVUK, and iPhonic, and other projects including Piano & Synth and Family Relationships. He is a prolific Facebook user. Andy lives in London, England.

© Copyright 2007 The Blog Herald | Submit post to Blogosphere News | More articles by Andy Merrett


Comments

5 Responses to “UK’s Shiny Media secures $4.5m in funding”

  1. Starked SF, Unforgiving News from the Bay » Blog Archive » Linker Barn: Monday, January 29 on January 29th, 2007 12:46 pm

    [...] Looks like $4 million plus for Shiny Media in the U.K. [...]

  2. Shiny Media Bags Multi-Million Funding » Jack Of All Blogs on January 31st, 2007 12:51 am

    [...] Okay, so Shiny Media, UK’s (and Europe’s, as claimed) largest blog network has recently received venture funding. [...]

  3. Congrats to Shiny Media on February 2nd, 2007 3:45 am

    [...] Andy Merrett at The Blog Herald covers a $4.5 million investment into UK blogging network Shiny Media. Insert the old fogy sound here as I remember when Shiny Media consisted of all but one blog, but a good one at that. Congrats to the team at Shiny, $4.5m @ 50% sounds like a reasonable, fair and equitable investment for a blog network, and as some one who has been following your progress for a number of years, I know that it is well deserved. But one question: Real English or US English on your blogs? it’s the 99 million dollar question [...]

  4. Shiny Media launches “intelligent women’s online magazine” plus niche gaming and Web 2.0 blogs at The Blog Herald on April 13th, 2007 5:36 am

    [...] Blog Networks Apr 13, 2007 at 5:36 am by Andy Merrett - Since Shiny Media’s $4.5m funding just under three months ago, they’ve pushed ahead with launching more niche web sites. [...]

  5. So entsteht ein Prada Schuh. Oder vielmehr sein “Wert”. | Tschilp on June 26th, 2007 6:18 am

    [...] made from start to finish” durch die Fashion-Blogs, allen voran sämtliche Blogs des mit Venture Kapital finanzierten Shiny Media Imperiums. Selbstverständlich stets reich garniert mit der erhellenden Erkenntnis: [...]

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