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Congratulations to Ashley Norris and Chris Price over at Shiny Media, who have sealed an investment of $4.5m from Dan Wagner’s newly-launched venture capital fund.
Wagner’s first move at Bright Station Ventures was to take 50% of the 22-strong UK-based blog network, which claims 3m readers each month. It is good news for Shiny and also a healthy development for the European blog sector.
The news was revealed in yesterday’s Sunday Times, which has long been a Wagner-watcher. He famously bought the Boo platform for about a quarter of a million quid, to underpin Venda, an online retail ASP that is going from strength to strength.
Bright Station Ventures has launched at a great time and with a fund of around $100m earmarked for investment it could help satisfy demand among web entrepreneurs looking for early-stage money.
Wagner told the Sunday Times: “There are businesses that could have been massively successful but they were denied the resources to fast-track a fabulous idea. There’s got to be a different way of doing this.”
Shiny Media last year brought in Mykindaplace-founder Shaa Wasmund as non-executive director, and it turns out that Shaa is also part of the Bright Station team. Smart move!
I’ll be speaking with Ashley Norris tomorrow to find out more on Shiny’s plans. Commenting on his blog he says: “We have come a very long way in a short space of time with no money. The investment will help us make some of our more ambitious dreams realities.”