NEW YORK: Following in the path of e-commerce start-ups and b-to-b exchanges, PR industry service providers have begun to get a piece of the VC action.
NEW YORK: Following in the path of e-commerce start-ups and b-to-b
exchanges, PR industry service providers have begun to get a piece of
the VC action.
WebClipping.com, which is billing itself as ’the world’s first and only
online reputation-management company,’ announced earlier this month that
it has received dollars 1.5 million in funding from 1775 Ventures,
’Our funding commitment solidifies the strength of WebClipping.com’s
business model in an industry that is clearly exploding,’ said 1775
senior associate James Deutsche. ’They give companies access to
information previously unavailable, yet vital to their success.’
According to WebClipping.com CEO and founder Noah Silverman, the company
has been profitable since its second month of business, which he
believes helped attract financing.
’To the VCs, we are a very different concept,’ he said. ’We can pay our
rent already, and there is no burn rate. We need funding only for
further growth and new developments.’ Silverman added that he has
received at least four offers from PR and marketing services companies
seeking to buy the company.
Founded in January 1999, the site allows clients to monitor news
outlets, usenet groups, Web sites and chat rooms and uses a ’smart’