US blogging system Medium mulls raising $20M in venture capital -rumor
US-based online writing and reading system Medium by Evan Williams is mulling raising a venture round, according to rumors. The company has been apparently subsisting on angel investments. Now, it is thinking about finally taking capital from venture capitalists (VCs), wrote TechCrunch. Evan William became a billionaire with the initial public offering (IPO) of Twitter.
Medium is rumored to be thinking about raising $20 million in venture capital funding. Greylock Partners has also been mentioned. However, it is unclear whether Williams needs to raise funding to support his company. Nothing has been confirmed yet, the report explained.
Like Twitter and Blogger, Medium is also setting its goals high. Williams aims to be ranked among the high quality content sites on the web. His company is on its way there despite a few bad avises from a couple of tech founders, the report said.
Raising a venture capital would be a wise move for the company, since it may need to make bolder acquisitions to achieve its goals. In April, the firm bought Matter. On the other hand, Yahoo's acquisition of Tumblr has made medium a tempting purchase for VCs, TechCrunch reported.
Evan Clark Williams is an American Internet entrepreneur who has founded several Internet firms. Among the top websites that his companies created are weblog-authoring software Blogger and microblogging platform Twitter, according to his web profile.