CrowdGather Raises $7.85 Million To Acquire More Forums
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CrowdGather is a leading community forum company known for acquiring other forums. Between all of their communities, they reach about 80 million page views per month and 4.5 million unique monthly visitors. CrowdGather has raised $7.85 million in a private placement by selling stock and warrants.
CrowdGather acquired several companies including forum host provider Lefora. They have also acquired digital ad company Adisn. In 2010, the company lost $3.4 million with revenues of slightly over $300,000. CrowdGather said in the past that they would need to raise substantial funding to support product development programs.