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Publishing - Saturday, September 9, 2006

Blog Platform FreeWebs Beefs Up With $11M

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Earlier this year, we posted on Silver Spring, MD-based blog platform FreeWebs' impressive traffic growth. The company has now closed an $11M first round from Novak Biddle Venture Partners and Columbia Capital. Freewebs had earlier received a $1M bridge loan from Bobby Yazdani, the founder and CEO of Saba Software [NASDAQ: SABA], VC firm Amidzad and Aydin Senkut, a former early Google employee.

The company is profitable and generated nearly $1M in Adsense revenue 2004. It made a minor acquisition of Rome, Italy-based Mad4Milk.net, a developer of blogging applications. In blogging, attention goes to the battle between Six Apart and WordPress but there are several other contenders, including Freewebs.

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