b5media funded – congrats Jeremy!

Post ImageThe news broke on Wednesday that Toronto-based b5media, a blogging/media network started by Jeremy Wright, had landed $2 million USD from Brightspark Ventures and J. L. Albright Venture Partners. b5media describes itself as “a gobal new media network” with over 150 blogs on a variety of topics. Today, National Post reporter Mark Evans announced that he is leaving mainstream media to join b5media as VP of Operations. I wish Mark the best of luck, though I don’t think he’ll need it – I think he made the right decision.

I have known Jeremy for a while now, and I’m a long time reader of his blog. I’ve had the pleasure of meeting him a few times (such as at Northern Voice) and he has always struck me as an intelligent, fairly down-to-earth kind of guy. That’s not to say he’s completely grounded though – you might remember that Jeremy was the first blogger to auction his services off on eBay. There’s a lesson there though – Jeremy is an innovator, and he really understands blogging. I know he’ll do great things with b5media.

I am not sure what b5media plans to use the money for, but maybe they can purchase a laptop or two for Jeremy? That guy has the worst luck with portable computers.

I’m really glad that Jeremy has become successful with b5media. He’s had his fair share of tough times in the past. Congratulations Jeremy!

Read: b5media

Blog Herald Sold

Post ImageI guess selling blogs isn’t as surprising nowadays as it used to be, but I was still a little shocked when I found out earlier today that Duncan Riley’s popular Blog Herald had been sold. The word on the street is that the blog sold for around $70,000 USD. From Jeremy Wright:

Why did Duncan sell it? I’ll let him give the full reasons, but the biggest and best were that he was no longer enjoying writing it as much as he used to, and that there was a perceived conflict of interest with a blog that was in a blog network reporting on blog networks.

Duncan’s been considering this move for a while now, but could never get enough interest up with the people he was talking to to make it worth his while. I told him I’d help out, broker the deal and take some of the stress off his shoulders. It’s always hardest to sell something you care deeply about (I know, having been there), so we both felt having someone who wasn’t directly involved with it doing the selling would be best (ie: me).

My congratulations to Duncan and my best wishes for the future of the site. I hope he gets what he wants out of it!

I remember a little over a year ago when I was doing BlogosphereRadio.com, the Blog Herald was one of my primary sources of information. It takes a lot of hard work to consistently post the most up-to-date news and analysis, so I have great respect for Duncan. I haven’t frequented the site as often lately (though I remain subscribed) mainly because my attention has turned to podcasting. I hope the new owner doesn’t destroy everything Duncan has accomplished thus far.

Do I think it’s worth $75K? Not so sure on that. I guess if the blog has the traffic – the right number of eyeballs – you could justify the price. The big question I’d have if I was the buyer is, how can I see a return on this investment?

I guess time will tell.

Read: Blog Herald