GumGum Receives $7,000,000 New Funding Round
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Feed Type
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Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2fdb69d8-6741-4d74-91a8-021682ee356a&Preview=1 -
Date
10/24/2011 -
Company Name
GumGum -
Mailing Address
530 Wilshire Blvd. Santa Monica, CA 90401 -
Company Description
GumGum is a licensing and distribution platform for online content. We believe paying a flat rate to license content for online use is illogical. Offline, the flat rate model works because distribution is finite. Online, thanks to Google and other search engines, a story lives forever. -
Website
http://www.gumgum.com -
Transaction Type
Venture Equity -
Transaction Amount
$7,000,000 -
Transaction Round
Undisclosed -
Proceeds Purposes
The new funding will be used to grow the ad sales infrastructure and team, towards the development of proprietary image recognition, ad serving, and ad matching technologies and for the expansion into additional territories -
M&A Terms
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Venture Investor
New Enterprise Associates -
Venture Investor
GRP Partners -
Venture Investor
First Round Capital
