SixApart with new round

Filed in archive Venture Capital on February 22, 2006

It seems many blogging properties and technology providers should wait for a call from SixApart's VP Business Development - they must do something with that money...

From Silicon Beat:

"Six Apart, the creator of blogging products like Moveable Type and Typepad, has raised $12 million in a third round of venture capital, according to IDD Magazine. Intel is rumored to be in on the deal."

Om works on the numbers:

"While I have not been able to speak with anyone from Six Apart, some of my sources in Silicon Valley are telling me that this one is rumored to be a hotly contested deal. The pre-money valuation was said to be around $80 million when Six Apart started raising money, but since then it has become a hotly contested deal, and the pre-money valuation is said to have climbed north of $100 million. Sources say the funding round hasn't closed as yet. I am going to qualify all this as a rumor since I have not spoken to Six Apart folks. And when I do, I will update the story accordingly.

In recent months, the company has been taking it on the chin mostly because of infrastructure issues. I bet a lot of money, if it has been raised, will be spent to upgrade the infrastructure. And of course there are 90-plus employees. Those familiar with the company say Six Apart's revenues have tripled in last 12-months. (Take this last bit with a grain of salt... however!) There is a pending launch of a new enterprise focused product, which could further consolidate SixApart's position as a core Web 2.0 infrastructure player."