Continued Growth Lands CafeMom.com a Major Infusion of Capital
CafeMom.com Closes $12 Million in Financing to Accelerate Its Growth and Solidify its Position as the Premier Online Destination for Moms
New York, NY (March 20, 2008) - CafeMom.com, the largest and fastest growing social networking site for moms, has secured $12 million in funding in a round led by the company's (CMI Marketing, Inc.) original investors Highland Capital Partners and Draper Fisher Jurvetson.
Launched in November, 2006, CafeMom has more than one million members. It is the leading women's/parenting site on the internet – passing mainstream sites like Oprah, ivillage, babycenter, and Marthastewart on key engagement metrics. According to comScore MediaMetrix February 2008 data, CafeMom is the #1 site for women on critical engagement metrics such as pageviews and average minutes/visit.
"CafeMom is a tremendous success with both moms and advertisers," said Dan Nova, Managing General Partner at Highland Capital Partners. "Clearly we have great confidence in the business model and see enormous growth potential for CafeMom."
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.
"CafeMom is unique in that it has been able to bring on dozens of blue-chip advertisers very quickly," said John Fisher, Managing Director at Draper Fisher Jurvetson. "We see a huge opportunity for CafeMom to be the preferred online partner for the best brands in the world."
CafeMom advertisers include P&G, Walmart, Playskool, Disney, HP, Kraft, General Mills, Nestle, Unilever, JCPenney, Johnson & Johnson, and Best Buy.
"With this round of funding, we plan to accelerate our growth and cement our position as the #1 site for moms, women, and parents," said Michael Sanchez, CEO of CafeMom.
With more than 120MM pageviews/month, 80MM minutes spent, and 6MM visits/month, CafeMom was ranked the #8 fastest-growing site in 2007 by compete.com and has recently won awards from Mashable and AlwaysOn as one of the leading social networking sites.
CafeMom was co-founded by actor Andrew Shue and Michael Sanchez. Prominent investors include Highland Capital Partners and Draper Fisher Jurvetson.
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