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Freewebs Gets Backing From Novak Biddle, Columbia Capital

Authored by Mark Hefflinger on September 8, 2006 - 1:55pm.
Silver Spring, Md. - Freewebs, an advertising-supported company that allows users to build their own websites, has completed its first round of venture capital, with backing from Novak Biddle Venture Partners and Columbia Capital. VentureWire reported that the company raised $11 million in the round. Silver Spring, Md.-based Freewebs was founded in 2001 and bootstrapped with an original investment of a couple thousand dollars. Since its founding, the company said over 11 million websites have been created using its free, do-it-yourself website building program. Most of the company's revenue has come from text ads from Google that are placed on its members' websites. According to comScore Media Metrix, Freewebs is among the top 150 most trafficked websites in the world.
http://www.venturebeat.com/wire/?p=314
http://members.freewebs.com/page.jsp?page=aboutFreeWebs
tags: Deals | VC | Advertising | Online Publishing | Tech | Freewebs | Novak Biddle | Columbia Capital |



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