Paging Marc Andreessen
I stand ready to accept your venture capital funding!
More news about Marc Andreessen making venture investments this morning after the launch of his new $300 million fund, Andreessen Horowitz: he is leading a round of financing for TPM Media, better known as the TalkingPointsMemo blog.
TPM founder Josh Marshall confirmed the pending investment today by phone. The round is small, between $500k and $1 million. Andreessen is leading the round and a number of other angel investors are participating as well.
This comes just a little over a month after Andreessen invested in another blog network, Alley Insider. He clearly likes the format. Both the Alley Insider and Talking Points Memo investments are being done personally by Andreessen, not through the new venture fund.
Huffington Post has received VC support in the past as well. And let me say that new media cannot thrive without outside revenue, or at least very few outlets can. Online ad revenue simply isn't enough.