Looks like Sugar Inc. is doing great with it’s tread for raising capital. The new media and blogging company just received a third round of funding ($16 million) from Sequoia Capital. In all, it has managed to raise $31 million in funds, and says it plans to use part of it to buy out NBC, which had invested $10 million in the company in return for an advertising deal, which the two dissolved last year.
Shopflick, a video-powered fashion marketplace is also on the purchase-list of Sugar. Shopflick raised $7 million last year. Sugar Digital Entertainment is on the horizons too, and they might very soon have David Grant, who is the former President of Fox TV Studios, as the President for it.
Statistics from a year ago suggest they had about 97 employees and were making an annual profit of about $15 million. Sugar Inc. CEO Brian Sugar stays non-commital on that, but tells us that the website does get about 100 million monthly page views.
Talk about doing big business …
