TechMediaNetwork, a publisher of a 16 science- and gadget-related online news sites, has raised $33 million in a second round as it looks to add its content roster with a series of acquisitions, reports David Kaplan of PaidContent.org.
Kaplan writes, “This is a pretty large amount for a niche publishing outfit. Nevertheless, the company’s sites may be niche, but it does have extensive reach through syndication deals with Yahoo!, MSNBC.com, Fox News and CBS News, as well as advertisers such as American Express, Canon, General Motors, HP and others.
“TMN, which is based on Ogden, Utah and New York, has made two previous acquisitions. The most notable was two years ago, when it acquired the consumer media division of Imaginova, which includes Space.com, LiveScience.com and Newsarama.com.
“In addition to building out its editorial side, the company will probably be looking to expand its internet shopping offerings. The e-commerce space has been growing pretty crowded in the last year, but much of the focus between publishing and deals has been on fashion lately. There’s no shortage of tech commerce outlets available, but attaching that function more deeply to a growing array of sites could be very meaningful for TMN.”
Read more here.
