Pajamas Media Closes $3.5 Million Venture Round

    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 bhohmann@vocecomm.com 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.

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