Media - Wednesday, August 1, 2007
Associated Content Raises $10M For Crowd-sourced News
NYC-based Associated Content has raised $10M in a 2nd round from Canaan Partners. The company is slightly controversial because of the backing of Google sales exec Tim Armstrong who invested in the company's first $5.4M round and is back in at this round along with Softbank. The critique has been that its odd to see a active sales guy at an ad network invest his own money into a content company that may or may not run his own ads.
Associated Content is similar to NowPublic which also raised $10M in additional funding just yesterday. They both rely on user submitted news (text, pictures video). Associated Content provides cash bonuses to its best contributors.
A couple of weeks back Geoff Reiss joined Associated Content as its CEO. He was with ESPN Original Content.
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