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September 11, 2006 at 1:27 am Leave a comment  Today DailyCandy is proof that geeks, albeit stylish ones in Levi’s low-rise jeans and drugstore flip-flops, are alive and well in New York’s Silicon Alley. More than 1.4 million subscribers gobble up daily dispatches in nine cities across the U.S., plus London. New franchises include a kids’ edition, a special deals edition, and one on travel. The site got so hot that it attracted several potential funders and in 2003 accepted an investment from Pilot Group, headed by former AOLer Robert W. Pittman. Last summer, Pilot put DailyCandy on the block for $100 million, and pundits proclaimed the valuation evidence of another bubble. But instead of selling, the site took a second round of funding, which helped push its value to an estimated $130 million. This year’s revenues are projected to be nearly $19 million, more than double those of 2005.

Entry filed under: Internet Startup.

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About Biz News

My Name is Bisi and this is my blog This blog features stories that I have read that I think are interesting . I usually bookmark the stories that I find interesting but they are getting too many . I have decided to catalog and share them on this site . I am not really promoting the site so you might have accidentally stumbled on it . Thanks for visiting .
September 2006
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