…it means it’s doing something right, says Michael Lazerow, Buddy Media CEO.
Speaking at the Digital Publishing & Advertising Conference Tuesday, Lazerow said one company that’s apparently doing something right is Medialets, a rich media advertising and analytics platform for mobile applications. The New York City-based company announced it got $4 million in funding from Foundry Group, DFJ Gotham, and Saba CEO Bobby Yazdani.
In making his point, Lazerow said over the past few years “a lot of businesses were funded in a drunken stupor.” Many of those businesses, he said, will die.
Keep in mind, Lazerow’s company, a developer of social media applications, got $6.5 million in a second round of financing in April 2008. For sure, Lazerow and his team are working in overdrive to assure its investors they weren’t drunk when they forked over the financing.
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