MaMaMedia, a site for kids, raised $50 million in its most recent round of equity funding. MaMaMedia had initially intended to raise $20 million but the response from investors resulted in the company's raising more than twice that amount. The round was led by J.H. Whitney & Co., which will be represented on the company's board. The additional funding will allow MaMaMedia to expand its marketing and membership programs. The company will also seek to expand its alliances for marketing, distribution and product development.
Copyright September 1999, Crain Communications Inc.