Glam Media Delaying its Payments to Partners
Glam, a site publisher and ad network serving many food blogs out there (full list here), is going to further delay payments that it owes to partner publishers, by up to four months. Valleywag is downbeat:
A well-capitalized ad broker would be able to pay its publishers promptly; it's part of the reason why such middlemen take a big cut of advertisers' payments. The only sensible reason why Glam can't pay Web publishers promptly is because it no longer has the capital to float its accounts receivable, despite raising $85 million earlier this year.