This news from VentureBeat caught my Web 1.0 bubble-jaded eye:
Michael Moritz, venture capitalist with Sequoia Capital, and backer of Google and Yahoo, is apparently funding a blog company called Sugar Publishing, which runs four popular blogs, including flagship PopSugar, that caters to young, hip women.
The San Francisco start-up, which has a social networking component, says it is already getting 13 million monthly page views (or so it said in August), and 1.5 million unique visitors.
Rumor of the investment appeared here first. The amount is $5 million, as reported by Om Malik this evening, though we haven’t confirmed any of this.
Five mil is a lot of scratch for four blogs and a social networking hub, but when you compare it to the $25 mil or so Radar magazine blew through, perhaps being unemcumbered by dead trees makes media interesting again.
Tags: Sugar Publishing, Mike Moritz, Sequoia Capital, media, venture capital