BlogTalkRadio Secures $4.6 Million in 'Series A' Financing
The Kraft Group is Lead Investor
NEW YORK, NY, June 25, 2008 – BlogTalkRadio (www.blogtalkradio.com), the first and largest online talk radio broadcasting network, today announced that it raised $4.6 million in Series A financing. The Kraft Group, which is headed by New England Patriots owner Robert Kraft, was the lead investor, along with former hedge-fund manager Scott Sipprelle and other private investors.
The monies will be used across multiple areas to strengthen brand awareness, advertising sales and marketing resources, and continued content development. Among its many future product enhancements, the company is also working on integrating video into its powerful audio platform.
“We are very proud of this strategic set of investors who understand and believe in the tremendous growth and economic opportunities that lie ahead for BlogTalkRadio,” said Alan Levy, CEO and co-founder of BlogTalkRadio. “This round of financing further validates BlogTalkRadio as a powerful, new platform. Given the broad number of opportunities our platform presents to marketers and advertisers, and those who are already using BlogTalkRadio, such as Sun Microsystems, Hachette Book Group, J. Wiley and Sons, Intel and the Department of Defense, we believe this is the right time to strengthen our capital base.”
Scott Sipprelle commented, "Blog Talk Radio represents a unique network for democratized media. It is a place where corporations, bloggers, and aspiring radio hosts can find, engage, and further develop an audience. I am confident that these additional financial resources will accelerate the company's already impressive growth trajectory."
BlogTalkRadio had a listenership of 3.2 million in May and broadcasts more than 400 new internet radio shows daily with continued double-digit growth each month. Since its August 2006 launch, thousands of hosts have broadcasted more than 100,000 shows on BlogTalkRadio.
Launched in August 2006, BlogTalkRadio is a free, web-based radio talkshow platform allows any user with a phone and a computer to host a live, interactive radio show -- no downloads or extra equipment needed. Hosts call into the service by phone to broadcast. Each show can accommodate unlimited live listeners. Upon completion of the live broadcast, it is automatically archived as a podcast. Well-known guests on BlogTalkRadio such as Yoko Ono, Brad Pitt, John McCain, Brian DePalma and more appear on the Best of BlogTalkRadio page. Notable hosts include: Intel; Marla Cilley, the FlyLady home and life organizer; Sun Microsystems; and the Department of Defense.
BlogTalkRadio’s citizen broadcasting network can be found at www.blogtalkradio.com.
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