EL SEGUNDO, Calif., Nov. 14 /PRNewswire/ -- Pajamas Media, a new media venture designed to bring together bloggers, journalists and commentators under a single umbrella, today announced it has closed its first round of private financing in the amount of $3.5 million. Pajamas Media will use this investment to build out its operations and marketing efforts and to expand its news and opinion coverage. Pajamas Media will be renamed at its official launch on November 16th in New York. The investor group is led by Aubrey Chernick, angel investor and technology entrepreneur, and also includes Jim Koshland, a leading member of the Silicon Valley venture capital and technology community, and a DLA Piper Rudnick Gray Cary venture capital investment partnership. "Securing this first round of venture backing validates the Pajamas Media business model and will go a long way towards helping us create an environment that will deliver on our pledge to change the way people report and access news and commentary," said Pajamas Media CEO Roger Simon. "What we are trying to do is not something that can be done on a whim. It requires a massive commitment from our team and from our platinum line up of contributors and writers. It also requires capital. We feel fortunate to have the support of our private investors." "We are pleased to be involved with Pajamas Media in an era when the demand for new and unique channels of information grows and the convergence of blogging, news coverage and advertising begins," said Jim Koshland. "We anticipate that Pajamas Media will have a profound and positive market impact due to its outstanding team and unique business approach. We believe successful industry trends such as AOL's acquisition of Weblogs validates the emergence of blogging as an important new media market. This financing will allow the company to accelerate its growth and solidify its market position." For more information on Pajamas Media's New York event, please contact Ben Hohmann at firstname.lastname@example.org or (650) 228-5187. About Pajamas Media Pajamas Media is a new media venture designed to provide an open forum where thoughtful journalists and bloggers join together to provide compelling content in a single source that will, in turn, complement and re-define journalism in the 21st century. Upon its official debut in November 2005, Pajamas Media will feature content from over 70 noteworthy bloggers. The company was founded in 2004 by acclaimed novelist and screenwriter Roger L. Simon and Charles Johnson, software designer, musician, and author of Little Green Footballs.
SOURCE Pajamas Media, Inc.