Home › DMW Daily › June 9, 2009

Social Network Gather.com Raises $5.3 Million

Authored by Mark Hefflinger on June 9, 2009 - 7:48am.
Boston - Gather, an online social network focused on the public radio-listening set, announced on Tuesday that it has raised $5.3 million in new equity financing.

Investors included Allen & Company; American Public Media; former Lotus CEO Jim Manzi; former Hill Holiday CEO Jack Connors; Kevin McClatchy; Andrew Tobias; and the Gerace family.

Founded in 2004, Boston-based Gather counted over 1.1 million unique visitors in May, up from 600,000 in January 2008.

Gather has gone after the public radio-listening audience, claiming two of the largest public radio groups as investors, and promoting its service heavily on NPR.

The company expects to achieve profitability by the end of next year.

 

Related Links:
http://www.gather.com/viewArticle.action?articleId=281474977705968

Published in DMW Daily, June 9, 2009
tags: Deals | VC | Social Networking | Radio | NPR | Gather.com | Allen & Company | American Public Media |



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