Sequoia Capital announced yesterday that it will give a third round of cash to a quick-growing media network, Sugar Inc., bringing the Valley-based company’s total VC purse to $31 million. Sugar also announced that it would hire the former head of Fox TV to run one of its new businesses. So exactly what does the company do?
If you don’t know, you might be male. Sugar is well-capitalized,
brightly-staffed, and very much oriented towards women. Its flagship
site is PopSugar,
a celebrity gossip site. Other parts of the variegated brand include FabSugar,
a fashion site, YumSugar
for cooking, FitSugar
for exercise, and, well, you get the idea. And, according to Quantcast, the company’s properties receive over 8 million monthly unique visitors and more than 50 million page views. Compared with the Huffington Post’s 13 million monthly unique visitors and $37M total funding, the math for Sugar looks just about right.
Sugar, Inc, headed by husband-and-wife team Brian and Lisa Sugar, will
also use some of Sequoia’s money to buy out a $10 million stake from
NBC, granted in 2007. According to VentureBeat, Sugar is on
the hunt for more acquisitions