Financing to accelerate rapid growth and cement position as the premier social networking site for moms
New York, NY - August 22, 2007 – Launched in November 2006, CafeMom.com has secured $5 million in funding in a round led by the company’s (CMI Marketing, Inc.) original investors Highland Capital Partners and Draper Fisher Jurvetson.
CafeMom.com is the largest and fastest growing social networking site for moms. Moms are much more than a niche. There are 40 million American moms with kids at home, they control 80% of household spending, and they are the primary customer for leading consumer brands across categories. With more than 65 million pageviews and 1.7 million unique visits in July (up from 23 million PV and 750,000 UV at the end of Q1), CafeMom is already a leading destination on the web for mothers.
“CafeMom is providing unique value to moms and advertisers. We are delighted to invest in CafeMom to rapidly grow the Company’s traffic and revenues,” said Dan Nova, Managing General Partner at Highland Capital Partners.
CafeMom has developed a series of cutting edge sponsorship programs that allow leading brands to join the consumer conversation, add value to moms’ lives, and get moms talking about sponsor brands in an authentic and viral way. Beyond the banner, CafeMom offers customized widgets, profile pages, custom groups, and influencer campaigns. Advertisers include Playskool, Disney, HP, Kraft, General Mills, and Sara Lee.
Launched in November 2006, CafeMom is the largest and fastest growing social networking site for moms. As the world’s original social networkers, moms are connecting on shared interests, passions, challenges, and local geography. CafeMom.com features include fully customizable profile pages, mom created groups, friends’ networks, and strong privacy / anonymity controls.
CMI Marketing, Inc. was founded in 1999 by Andrew Shue and Michael Sanchez. CMI Marketing also runs ClubMom, another leading website for moms. Building upon years of success at CMI Marketing, CafeMom was built by 7 people in 7 weeks and is now the growth engine for the company. Prominent investors include Highland Capital Partners and Draper Fisher Jurvetson.