June 27, 2006
paidContent.org receives funding from venture capitalist
Congratulations to Rafat Ali, who has received funding from venture capitalist Alain Patricof. Rafat Ali and his team on MocoNews is a daily read for anyone interested in the mobile content industry and a longstanding favorite of this blog.
According to Reuters, "The owners of the blog paidContent.org - the parent company of their three sites - which writes about the technology and media industries, on Monday said they have received funding from venture capitalist Alan Patricof.
Patricof, who helped finance Apple Computer Inc, AOL and New York magazine, said he saw paidContent as a must-read for industry insiders.
"I've been an avid reader of the sites for some time and watched it expand into areas such as job search and wireless applications despite having limited capital at its disposal," Patricof said in comments on paidContent announcing the deal.
ContentNext has been profitable from its first day, Ali said in an interview, and it is expected to generate sales of "low-single-digit" millions by next year.
The company also said it has hired former Details magazine president and publisher Jeff Stern as a director and chief operating officer. "
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