Monday, July 23, 2007

GreenDimes Gets 205 Million Dimes

Back in October, 2006, I wrote about a company I really liked called GreenDimes. The article, I Hate Spam: Snail Mail Edition, talked about how the folks at GreenDimes had a great business on their hands, but I questioned whether they could ever be a stand-alone IPO-sized company that the usual VC model likes to fund.

Last week, it was reported in PE Week Wire that GreenDimes has secured $20.5M in Series A funding led by Tudor Investment Corporation. That's a whopping huge Series A. Many congratulations to Pankaj Shah and the entire team at GreenDimes. It's a good company with a worthy cause and a nice business model. The financing should give them ample room to build the business. Excellent news!

Great coverage is at Earth2Tech (and on GigaOm).

Death to Junk Mail!

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