Blogging service Tumblr said it has raised $85 million, although the company has barely any revenue and the business plan is sketchy at best.
But it was the lack of revenue part that kept some major venture firms away from making the dea. Graylock Partners, investors with Facebook and Groupon, and Twitter-investor Insight Ventre Partners. Speaking of sketchy business plans…
Who else is at the table? Glad you asked. The Chernin Group, Sir Richard Branson, Spark Capital, Union Square Ventures, and Sequoia Capital.
There might be addition information in the Wall Street Journal but I don’t pay for that so go scratch.
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