Monday, November 14, 2005

Pajamas Media Closes $3.5 Million; What is Pajamas Media?


Roger, AKA "Raj" Simon (image via pajamasmedia)

Just what is Pajamas Media? It all sounds rather porny, if you ask us. The short answer is that Pajamas Media is a rightward answer to HuffPo. The more the merrier in the blogosphere, we believe. (The Corsair pours himself a glass of the black wine of Cahors, elixir of Popes) Bloggers will include Larry "How about a capital gains tax cut" Kudlow, the leftish David Corn, Japanese internment camp defender, Michelle Malkin, and John Podhoretz. And, apparently, they are positively festive! According to the Pajamas Media blog:

"The launch of Pajamas Media on November 16th, I think, should be a festive event. Because to me, this is a celebration of reaching a certain point. Other groups besides Pajamas Media have talked about doing something like this, and finally we�re gonna do it! It�s reaching a certain maturation, and certain moment, and we really should be festive about it."

According to New York, Judith Miller will be speaking at their November 16 launch party at the Rainbow Room. Finally, they've got a little F-U money, according to their press release:

"Pajamas Media, a new mediaventure designed to bring together bloggers, journalists and commentatorsunder a single umbrella, today announced it has closed its first round of private financing in the amount of $3.5 million.

"Pajamas Media will use this investment to build out its operations and marketing efforts and to expand itsnews and opinion coverage. Pajamas Media will be renamed at its official launch on November 16th in New York."

"The investor group is led by Aubrey Chernick, angel investor andtechnology entrepreneur, and also includes Jim Koshland, a leading member ofthe Silicon Valley venture capital and technology community, and a DLA Piper Rudnick Gray Cary venture capital investment partnership.

"'Securing this first round of venture backing validates the Pajamas Media business model and will go a long way towards helping us create an environmentthat will deliver on our pledge to change the way people report and access news and commentary,' said Pajamas Media CEO Roger Simon. 'What we are tryingto do is not something that can be done on a whim. It requires a massive commitment from our team and from our platinum line up of contributors andwriters. It also requires capital. We feel fortunate to have the support of our private investors.'"

Current postings here.

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