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Kara Swisher and Rafat Ali are reporting yet another injection of funds into the blogging market segment. This time its the turn for Silicon Alley Media, the parent company of Silicon Alley Insider. Silicon Alley Media is founded by Kevin Ryan, Dwight Merriman, and Henry Blodget. Henry Blodget is not a new name in journalism, whereas Kevin Ryan is the former CEO of Double Click. So the team behind this new media adventure is rock solid and battle hardened. This is why Silicon Alley Insider has risen sharply among the ranks of other technology blogs within just one year.
Rafat is reporting that the less than $1 million has been raised at a valuation of $6 million. The group of investors include Allen Morgan who was a former partner at Mayfield. SAI has also recently launched Clusterstock, a blog dedicated to the stock market news and analysis and The Business Sheet, which will be covering the business side of Hollywood.
With PaidContent getting acquired by Guardian Media, and Tech Crunch rumored to be in acquisition talks with AOL, Alley Insider funding is yet another incident showing that blogging is now coming off age and are getting hot commodities both with the VC’s and with old school media groups.
Henry Blodget has also covered the news at Alley Insider, but has sidestepped from providing any financial details. Needless to say that this eliminates SAI from becoming a part of the dream team, that Michael Arrington is talking about.
