Feed Web Magazine Announces New Financing Round
Posted on December 12, 1997
A new round of financing from an eclectic group of new-media heavyweights will enable Feed to remain independent while continuing its editorial expansion, founders Steven Johnson and Stefanie Syman announced today.
At more than a quarter-million dollars, the new capital infusion matches the total budget for Feed' first 24 months, Johnson said.
The investors include Esther Dyson, Chairwoman of EdVenture Holdings; David Horowitz, new media investor and former CEO of MTV Networks; Chris Anderson, Publisher, Imagine Publishing; Robert Bingham, author, Co-Founder, Open City; Brian Horey, Partner, Lawrence, Smith & Horey; and, Francine Sommer, General Partner, Gabelli Multimedia Partners.
Noting that each of the investors invested as individuals, and not on behalf of their firms, Syman said that Feed had succeeded at meeting its financing goal, while maintaining its editorial independence.
While Anderson and Horey have previously invested in Feed, Johnson and Syman said they secured the backing of Dyson, Horowitz, and Sommer after making a presentation at the prestigious Angel Breakfast, a network of prominent new media investors.
