CafeMom Mops Up $5 Million In Funding
As tradition would have it, Facebook’s for college students and LinkedIn’s for professionals. But what about mothers? Yes, mothers can of course be both college students and professionals, but in any case, there’s CafeMom, and for CafeMom, there’s $5 million – the social networking site just had a successful round of funding.
|CafeMom Mops Up $5 Million In Funding|
“Moms are much more than a niche,” explained a press release. “There are 40 million American moms with kids at home, they control 80% of household spending, and they are the primary customer for leading consumer brands across categories. With more than 65 million pageviews and 1.7 million unique visits in July (up from 23 million PV and 750,000 UV at the end of Q1), CafeMom is already a leading destination on the web for mothers.”
And there you have it: those statistics answer the objections I usually raise to these types of stories. Toss in a few high-profile advertisers – Playskool, Disney, and General Mills, for example – and we’re all set.
Dan Nova, a managing general partner at Highland Capital Partners, stated, “We are delighted to invest in CafeMom to rapidly grow the Company’s traffic and revenues,” and you can’t blame the guy. Highland Capital participated in Metacafe’s recent $30 million financing round, by the way, so CafeMom would appear to have its foot stuck in the door of a very wealthy firm.
Also, VentureBeat’s Matt Marshall notes, “Women-oriented sites are experiencing robust growth . . . suggesting this is a good a time as any for the company to get a second wind.”