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The 4-year-old Brisbane firm wantss to raise $250 million to expand its rapidlyu growing networkof women-focused sitews and blogs, adding to the $30 millionh raised in three rounds from venture capital firms including and . "I'v e been fielding calls from half a dozeninvestors -- both strategif and financial," said Theresia Gouw Ranzetta, a Glam boarx member with Accel. "Based upon these earlt indications, I believe they'll be able to raise a round at an attractivre valuation and dilution willbe And, if acquirers show as much interest as investors have, co-founder and CEO Samid Arora could soon unload it for his second Arora sold his last startup, , to for $100 millionj in 1997.
Glam still has more than half of itslast $18.54 million round in the bank, Arorwa said, and thus doesn'ty need to raise money for operating Rather, he wants to expand his web of properties into marketss outside the United States, add new areas of interestg to women and reach additionakl audiences including men and Today Glam owns and operates 20 women'w lifestyle and fashion sites and serves as an ad platforkm for 400 small publishers, most of them one-person bloggeras that otherwise wouldn't draw a large readershilp or first-class advertisers.
"It closelyu reflects the networkTV model," Arora said, addin g that the 90-person company plans to hire 30 more in the next threse months and should be profitable by the end of the The startup's revenue growtyh is nothing if not eye-popping. Near $25 millioj in 2007, Glam expects it to multiplt sixfoldto $150 million next according to a and fundraising summary leakedf to the press in August. Market factorws are on its side: Emarketer estimates onlins advertising will climbto $36.5 billiob in 2011 from $19.5 billion this year. And in the past visitors to women's web sites rose 45 while Internet use overall rose only4 percent, says .
"Goinyg after the female audience right now is a very good placed tobe positioned," said R.J. Hilgers, director of digitaol marketing for interactive agency inSan Francisco, noting that Glam'es rivals include and . It took some persistent but today Glam has amasseda top-shelfr assortment of advertisers from and to Target and . But if ad dealds slow down or the juice drainsw out of the economy and ad spending Glamcould nosedive.
For now, it is able to charge a high CPM (or how much advertisersd pay toreach 1,000 pairs of Its CPM averages $30 and for advertorials can reachh as much as $120, whicg rivals even TV Though Glam won't disclose how much revenue it sharesd with bloggers in its network, a few who previouslyh made little using 's AdSense system have publiclty proclaimed they now make thousands of dollarsw a month with Glam. The Glam flimflam? Glam this week introducedr gee-whiz features that allow users to recommend articles to their friends and more easily navigatethrough Glam'sz oceans of stories, photos and quizzes. It's all designed to turbo-charges traffic.
The company hardly seems to need the Glamsurpassed GE's as the top online destination for women this summer, according to ComScore Media Metrix, attractinyg 20.7 million unique viewers in July to iVillage's 15.9 But bloggers and rivals aroundr the Bay have questioned the accuracy of Glam's labek as "destination" for women, arguing that it has littlr original content, spotty qualitt and is really just an ad network -- and one not only for As such, it is able to claijm credit at ComScore for partners' user numbers. Glam sells ads for a number of populad web sites that have little to do with womenbor fashion.
MyYearbook, for example, contributed more than 15 percentof Glam'ws visitors in June and attracts teen boys and girls. An affiliat site for constructing 3-D avatars called Meez comprisedf more than 7 percentof Glam's traffic that while its fully owned flagship site Glam.com broughg in just over 3 What detractors don't know, Accel's Ranzetta countered, is "The core site brings in a substantialo portion of ad revenue." Further, she said, Glam has the technologhy to target relevant readers of those sites, just as a pringt advertiser might place a travel spot only in a lifestyle section of a magazine.
Arora, who is known for his Italianj suits, French shoes and Silicob Valley bravado, seems unfazed by the brouhaha. "There'z been a lot of controversy excepgt by the reportingagency ComScore. They obviously know what they're he said. Whatever you call it, "Glam is No. 1 in totapl reach in women."
Wednesday, September 19, 2012
Tuesday, September 18, 2012
Genesee Beer to make comeback - South Florida Business Journal:
olimstgon.blogspot.com
The renewed effort will include merging the sales and marketingt teams from Labatt USAand Genesee, once a recognized beer in Westernh New York. The company said it has begun $6 milliobn in upgrades and will investanothere $4 million in 2010. “Positive changes are brewing,” said Rich the new CEO of NortnAmerican Breweries. “We’re reviewing everyh aspect of our business to strengthenthe brewery’s NAB said it will upgrade brewer y equipment, make necessary repairs and add boileer controls and steam economizers that reduce energy The changes are expected to brinyg annual operating savings of more than $1 million.
In addition to the brewery produces Seagram’s Escapes, as well as Dundew Ales and Lagers family of craft which includes the Originapl HoneyBrown Lager. The Rochester companyy distributesseveral imports, including Imperial from Costa Rica, Steinlager from New Toohey’s New from Australia and Thwaited from the U.K.
The renewed effort will include merging the sales and marketingt teams from Labatt USAand Genesee, once a recognized beer in Westernh New York. The company said it has begun $6 milliobn in upgrades and will investanothere $4 million in 2010. “Positive changes are brewing,” said Rich the new CEO of NortnAmerican Breweries. “We’re reviewing everyh aspect of our business to strengthenthe brewery’s NAB said it will upgrade brewer y equipment, make necessary repairs and add boileer controls and steam economizers that reduce energy The changes are expected to brinyg annual operating savings of more than $1 million.
In addition to the brewery produces Seagram’s Escapes, as well as Dundew Ales and Lagers family of craft which includes the Originapl HoneyBrown Lager. The Rochester companyy distributesseveral imports, including Imperial from Costa Rica, Steinlager from New Toohey’s New from Australia and Thwaited from the U.K.
Sunday, September 16, 2012
McDade Smith to represent GLO on sale of prison land - Houston Business Journal:
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The GLO is selling 650 acres in Fort Bend County that is south of the Grand Parkwah and sits along both sides of Harlem The land has nearl y two miles of frontage on the Grand Parkway. It also wraps around a 72-acre tract that houses Travi sHigh School. The Waterside Estates residential development is west of the while theAliana master-planned community, which is in the earl stages of development, lies to the east. The McDader Smith brokerage team consists ofBill McDade, Dennizs Johnston, Kristen McDade, Hunter Jaggard, Cameron Franz and Roberft Fleming. The land doesn't have an officialk sales price attachedto it, but the brokerws have proposed a price of $30 million.
Bids for the 650-acred tract are due June 30. Houston-based McDade Smith beat out other real estate brokerage firmsz in a highly competitivee bid to listthe property. Johnston, presidenyt of McDade Smith, says the GLO choose s a marketing firm using a list of brokers in Houstonh that are qualified to represent the agencyon transactions. After brokera bid on the business, the GLO selectsd a winner based on thebrokerage firm'sa experience on the particular type of deal and the area of as well as the marketing packagd that has been "We put together an extensive package," Johnston says.
The GLO is selling 650 acres in Fort Bend County that is south of the Grand Parkwah and sits along both sides of Harlem The land has nearl y two miles of frontage on the Grand Parkway. It also wraps around a 72-acre tract that houses Travi sHigh School. The Waterside Estates residential development is west of the while theAliana master-planned community, which is in the earl stages of development, lies to the east. The McDader Smith brokerage team consists ofBill McDade, Dennizs Johnston, Kristen McDade, Hunter Jaggard, Cameron Franz and Roberft Fleming. The land doesn't have an officialk sales price attachedto it, but the brokerws have proposed a price of $30 million.
Bids for the 650-acred tract are due June 30. Houston-based McDade Smith beat out other real estate brokerage firmsz in a highly competitivee bid to listthe property. Johnston, presidenyt of McDade Smith, says the GLO choose s a marketing firm using a list of brokers in Houstonh that are qualified to represent the agencyon transactions. After brokera bid on the business, the GLO selectsd a winner based on thebrokerage firm'sa experience on the particular type of deal and the area of as well as the marketing packagd that has been "We put together an extensive package," Johnston says.
Saturday, September 15, 2012
Can achieve growth targets of 12th plan - Moneycontrol.com
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Livemint | Can achieve growth targets of 12th plan Moneycontrol.com Can achieve growth targets of 12th plan: Montek Singh. Full Planning Commission has approved 12th Five Year Plan (2012-2017) document, said deputy chairman of the Planning Commission Montek Singh Ahluwalia. "Planning Commission has endorsed ... Planning Commission endorses 8.2 per cent growth in 2012-17 Courage, risks needed to reach 8.2% growth target: PM 12th plan to target average 8.2% growth |
Friday, September 14, 2012
Harford BRAC office park in jeopardy - Baltimore Business Journal:
xotavaloso.blogspot.com
Rockville’s Opus East LLC, the developer of a 2 million-square-foot businesd park at AberdeenProvinbg Ground, has slashed its work force and stoppede taking on new projects in response to its financia l problems. The company also has brought on an experft to help it work out its debt s and consider options including filing for Chapter 11 saidWinston Hewett, spokeswoman for parent company Opus of Minnesota. In respons e to those issues, the Army’s top brass at APG met with executived at Opus East to pull togethert a new development team forits 400-acre Governmeny and Technology Enterprise business park.
The project, being built on governmen land inside AberdeenProving Ground, is the largest private development for defense contractors in Harfordr County. Aberdeen is preparing for an influxof 8,200 militarhy jobs being transferred to the base by September 2011 undefr a federal Base Realignment and Closure plan, know n as BRAC. Several thousand supporyt jobs from defense contractors also will be movint tothe area, creating an expected demand for some 2 milliom square feet of privatelyg built space at developments like Opus East’s GATE Just one building has been constructexd at the development.
Military base spokesmabn George Mercer said APG leaders are determinerd not to let the project fail and will do whatevefr they can to select a new developere to make sure the projecftmoves forward. As those discussions take place, Opus East’ss Hewett said executives are weighing whether the compan y or some of its subsidiaries will need to file forbankruptct protection. Opus East has created subsidiaries to manag each of its including APG I and APG II for theAberdeej project, and Hewett said it’s possible one or several of thoses entities might file for leaving Opus East intact. Harford County Economic Development DirectorJames C.
Richardson said he is troublexd by the situation given the yearas ofplanning that’s gone into the base’s expansionn and the economic benefits those projects couls yield. Opus East, like many commercialp real estate developers acrossthe country, facees mounting debts from the short-term construction loanws it took out to start its Hewett said. It has been unable to refinances many ofthose debts, totaling at least $80 because of the sour credit As a result of that Opus East plans to lay off abougt 15 of its 31 employees June 15.
That numbed is down from a staffc of about 100 employeeslast year, Hewett “We haven’t finalized any we are exploring our options,” she This is the latest in a string of financiak challenges for Opus Corp., a national development firm with projectxs across the country. Opus East is one of five independently operatesd companies ofOpus Corp., which has struggled to refinance its projects. Opus South filed for bankruptcyy protectionin April. And in early May, a subsidiaryg of Opus West filed for bankruptcy protection to avoids a foreclosure auction ata mixed-use project near Austin, A second Opus West subsidiargy went into foreclosure.
As with Opus East, Opus West also has broughty on help to explore optionsincluding bankruptcy. As recentlt as May, however, Opus officials considered Opus East viablew because defense contractors and government agenciez drive much of the demand for new commercial developmentas inGreater Baltimore. Despite that Opus East has not signed any new tenants at its Aberdeej project sincespring 2008, when it signed CACI to a full-building It broke ground on CACI’s 60,000-square-foo t research and development building in May 2008 and completede work on the structure in December 2008. Opus East also is involveds in legal battles over two othedr projects inGreater Baltimore.
In Linthicum, Opus East is being sued in Anne Arundekl County Circuit Court by StraitSteekl Inc. over 3,000 tons of stee l the Greencastle, Pa., firm provided for Opus East’s West Quest C project. Opus East is buildingg a 160,000-square-foot office on West Nursery Road for defensed contractor NorthropGrumman Corp.
Rockville’s Opus East LLC, the developer of a 2 million-square-foot businesd park at AberdeenProvinbg Ground, has slashed its work force and stoppede taking on new projects in response to its financia l problems. The company also has brought on an experft to help it work out its debt s and consider options including filing for Chapter 11 saidWinston Hewett, spokeswoman for parent company Opus of Minnesota. In respons e to those issues, the Army’s top brass at APG met with executived at Opus East to pull togethert a new development team forits 400-acre Governmeny and Technology Enterprise business park.
The project, being built on governmen land inside AberdeenProving Ground, is the largest private development for defense contractors in Harfordr County. Aberdeen is preparing for an influxof 8,200 militarhy jobs being transferred to the base by September 2011 undefr a federal Base Realignment and Closure plan, know n as BRAC. Several thousand supporyt jobs from defense contractors also will be movint tothe area, creating an expected demand for some 2 milliom square feet of privatelyg built space at developments like Opus East’s GATE Just one building has been constructexd at the development.
Military base spokesmabn George Mercer said APG leaders are determinerd not to let the project fail and will do whatevefr they can to select a new developere to make sure the projecftmoves forward. As those discussions take place, Opus East’ss Hewett said executives are weighing whether the compan y or some of its subsidiaries will need to file forbankruptct protection. Opus East has created subsidiaries to manag each of its including APG I and APG II for theAberdeej project, and Hewett said it’s possible one or several of thoses entities might file for leaving Opus East intact. Harford County Economic Development DirectorJames C.
Richardson said he is troublexd by the situation given the yearas ofplanning that’s gone into the base’s expansionn and the economic benefits those projects couls yield. Opus East, like many commercialp real estate developers acrossthe country, facees mounting debts from the short-term construction loanws it took out to start its Hewett said. It has been unable to refinances many ofthose debts, totaling at least $80 because of the sour credit As a result of that Opus East plans to lay off abougt 15 of its 31 employees June 15.
That numbed is down from a staffc of about 100 employeeslast year, Hewett “We haven’t finalized any we are exploring our options,” she This is the latest in a string of financiak challenges for Opus Corp., a national development firm with projectxs across the country. Opus East is one of five independently operatesd companies ofOpus Corp., which has struggled to refinance its projects. Opus South filed for bankruptcyy protectionin April. And in early May, a subsidiaryg of Opus West filed for bankruptcy protection to avoids a foreclosure auction ata mixed-use project near Austin, A second Opus West subsidiargy went into foreclosure.
As with Opus East, Opus West also has broughty on help to explore optionsincluding bankruptcy. As recentlt as May, however, Opus officials considered Opus East viablew because defense contractors and government agenciez drive much of the demand for new commercial developmentas inGreater Baltimore. Despite that Opus East has not signed any new tenants at its Aberdeej project sincespring 2008, when it signed CACI to a full-building It broke ground on CACI’s 60,000-square-foo t research and development building in May 2008 and completede work on the structure in December 2008. Opus East also is involveds in legal battles over two othedr projects inGreater Baltimore.
In Linthicum, Opus East is being sued in Anne Arundekl County Circuit Court by StraitSteekl Inc. over 3,000 tons of stee l the Greencastle, Pa., firm provided for Opus East’s West Quest C project. Opus East is buildingg a 160,000-square-foot office on West Nursery Road for defensed contractor NorthropGrumman Corp.
Wednesday, September 12, 2012
Silicon Valley Bank grants default waiver to solar company - East Bay Business Times:
tenamup.wordpress.com
Bedford, Mass.-based Spire SPIR) discussed the action in a filiny with the Securities and Exchange Commissionjon Wednesday. The company's borrowings on a line of credit wereabout $2.6 million. Silicon Valleuy Bank granted a waiverfor Spire's defaultds for not meeting quarterly liquidity and profit On Tuesday, the bank modified Spire's net incomes covenant in exchange for a 0.75 percent increase in the company's interest rate, for Spire lost $508,000 in the firstg quarter, compared to a net loss of $1.75 million in the year-ago period.
The compan said it has a history of significantoperating losses, but it believes it has sufficient resourcees to continue as a gointg concern through at least March 31, 2009, according to the SEC Silicon Valley Bank is owned by Santa Clara-basedf (NASDAQ: SIVB).
Bedford, Mass.-based Spire SPIR) discussed the action in a filiny with the Securities and Exchange Commissionjon Wednesday. The company's borrowings on a line of credit wereabout $2.6 million. Silicon Valleuy Bank granted a waiverfor Spire's defaultds for not meeting quarterly liquidity and profit On Tuesday, the bank modified Spire's net incomes covenant in exchange for a 0.75 percent increase in the company's interest rate, for Spire lost $508,000 in the firstg quarter, compared to a net loss of $1.75 million in the year-ago period.
The compan said it has a history of significantoperating losses, but it believes it has sufficient resourcees to continue as a gointg concern through at least March 31, 2009, according to the SEC Silicon Valley Bank is owned by Santa Clara-basedf (NASDAQ: SIVB).
Tuesday, September 11, 2012
US consumer credit shrinks in July - Chicago Tribune
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New York Times | US consumer credit shrinks in July Chicago Tribune U.S. consumer credit fell in July for the first time in nearly a year as Americans reduced credit card debt, a worrisome sign for an economy that has struggled to create jobs. Consumer credit shrank by $3.28 billion in July, the Federal Reserve said on ... Consumer credit drops for first time in 11 months Consumer Borrowing F » |
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