Mochila expands marketing with $8M in financing
Global online media marketplace Mochila plans a marketing and administrative expansion after securing $8 million in Series "B" financing.
The financing for the media site was led by Charles River Ventures, Waltham, MA, and Mochila's previous investors: Mission Ventures, The Greenspun Corp. and Jerry Colonna.
"With this money we're going to be able to expand our marketing and our administrative capabilities," said Benjamin Chen, chairman and chief technical officer at Mochila, New York. "Our direct sales team will be handling sophisticated clients like wire services or larger publishers."
Mochila is a marketplace for print, audio, video and photo content. Its syndication service lets editors acquire the rights to content a la carte and on demand. The site provides tools for content sellers to set licensing rules, including pricing, embargoes, exclusions and other business terms.
The firm was introduced to the market in 2006. The site aims to match publishers and advertisers with relevant content, which Mr. Chen said many professionals in this industry have had problems doing in the past. It has marketed itself through online channels such as buying keywords and being picked up on blogs. With the new money, Mr. Chen said, there is interest in syndicating content and developing social networks.
Clients include some of the world's biggest publishing companies, which own and operate 1,500 newspapers, magazines, wire services and Web sites combined. Members include Advanstar, Editora Abril, Editora Globo, Entrepreneur, Hachette Filipacchi Media U.S., Hearst Magazines, New York Magazine, Publishers Group of America, Scientific American, Working Mother Media, The Associated Press, Los Angeles Times/Washington Post News Service, MSNBC.com, CNET Networks and iParenting.com.
Mochila members also can choose to earn ad revenue through its online ad-supported model, Mochila AdMatch. With Mochila AdMatch, content is free and ad revenue is shared by the buyer, content owner and Mochila. Currently, ads are provided from Mochila's ad network partners 24/7, Quigo and Tacoda. All these services also are available to Spanish-language media worldwide through Mochila Espanol.
The growth of online exceeds the shift from print, Mr. Chen said.
"It's not just a moving of ad dollars from one medium to another," he said. "It's that the Internet as a channel is growing in and of itself."