Mochila Announces $8 Million Series B Round of Financing

Mochila Announces $8 Million Series B Round of Financing

Charles River Ventures, Mission Ventures, The Greenspun Corporation and Jerry Colonna Invest in Online Media Marketplace


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New York, NY–(HISPANIC PR WIRE)–January 4, 2007–Mochila, the first global online media marketplace for print, audio, video, and photo content, announced today that it has secured $8 Million in Series “B” financing.

Charles River Ventures, located in Waltham, MA, led the round, while Mochila’s previous investors: Mission Ventures, The Greenspun Corporation, and Jerry Colonna also participated.

“We’re proud that so many of the world’s top newspapers, magazines, wire services and websites have joined Mochila,” said CEO Keith McAllister. “We are very pleased that Charles River Ventures—one of the nation’s most distinguished and successful venture firms—is joining Mochila’s already strong investor syndicate and we look forward to taking Mochila to the next level.”

“Mochila has seen incredible market interest since its launch less than a year ago,” said Austin Westerling, a Partner with Charles River Ventures who will be joining Mochila’s Board of Directors. “Historically, high-quality content such as images, articles and video has been locked in the proprietary channels of the content creator. Mochila’s web-based platform opens up an enormous market by enabling that content to be safely syndicated across the globe.”

Mochila came out of stealth mode less than a year ago in April 2006 and has not looked back since then with over 100 of the biggest and most powerful publishing companies in the world that currently own and operate more than 1,500 newspapers, magazines, wire services and websites combined. Key members include:

— Advanstar, Editora Abril, Editora Globo, Entrepreneur, ESPN Desportes, Future, Hachette Filipacchi Media US, Hearst Magazines, New York Magazine, Publishers Group of America, Scientific American, and Working Mother Media.

–Freedom Communications, Gatehouse Media, The Mainichi Newspapers, MediaNews Group, and Metro International.

— The Associated Press, L.A. Times/Washington Post News Service, DPA, EFE, El Universal News Agency, GDA, Rasmussen Reports, and Ria Novosti.

— MSNBC.com, CNET Networks, and iParenting.com

Mochila (http://www.mochila.com) is the world’s only syndication service to allow editors the ability to easily and instantaneously acquire the highest-quality rights-managed content a la carte and on-demand. Mochila provides simple but powerful tools for content sellers to set licensing rules, including pricing, embargoes, exclusions and other business terms. Mochila gives content sellers the ability to easily reach new markets while protecting their current business relationships.

Mochila members can also choose to earn advertising revenue through its unique online ad-supported model, Mochila AdMatch. With Mochila AdMatch, content is free and advertising revenue is shared by the buyer, content owner, and Mochila. Currently, ads are provide from Mochila’s ad network partners, 24/7, Quigo and Tacoda.

And all these services are also available to Spanish-language media around the world through Mochila Espanol.

Mochila, the world’s first and only online media marketplace, where members can Buy, Sell, and Earn.

Mochila Announces $8 Million Series B Round of Financing