Glam Media is aboutto announce that it has a new CFO, Bruce Jaffe. This signals that Glam is perhaps getting ready for an IPO, as Jaffe has a lot of experience at a big public tech company. Before he resigned a year ago, he was head of all corporate M&A at Microsoft. So he knows all the investment bankers on Wall Street pretty well.
Yahoo was rumored to be courting Jaffe also. But Glam is pre-IPO (they haven’t even filed an S1 yet), and is growing like crazy. Glam cracked Comscore’s top ten U.S. properties for the first time in March, with 80.4 million unique visitors across its network of women-oriented sites. And it still has its own $50 million war chest from its last round of funding in February. Jaffe is the perfect CFO to start spending that money on Glam’s own M&A. And an IPO would add a new currency to that war chest.
Jaffe already knows Glam intimately. He is an advisor to the company. At Microsoft, he was head of corporate development for MSN and then for the whole company, where he oversaw the aQuantive deal and tried to buy Yahoo.
Glam’s current CFO Steve Recht will step down after a brief transition period.
Bruce Jaffe, the former director of M&A at Microsoft, is the co-founder of a company called Digiting alongside Lee Mighdoll.
Glam Media is a vertical media company, comprised of both Glam-owned-and-operated properties (Glam.com, Brash.com, and soon, Bliss.com) and a publisher network of 2000+ lifestyle websites and blogs. Glam Media’s vertical media model aims to enable premium brands to connect with audiences online. Glam Media is #1 in global reach for women online, with approximately 90 million unique monthly visitors in the US and more than 200 million uniques globally. Glam Media is a comScore Top 10 U.S. Web Property, is...