Lijit takes $7.1m for ad network

Blog search service Lijit has taken $7.1 million Series C in a round led by Foundry Group that included existing investors Boulder Ventures and Colorado Fund. Lijit said it would use the funding to launch its own ad network and monetize its widget offering. Total funding to date is $11.3million.

Lijit’s search service enables readers to search blog publishers’ posts, bookmarks, blogroll, and more from a widget placed on the publisher’s property. Essentially, it becomes a single box to search any published material from a company or individual no matter where it is, be it on blogs, Flickr or other social networking sites.

We have a Lijit box in the sidebar here at The Inquisitr, although it’s not high up, perhaps it should be higher. Congrats to the team on the round.

On a side note, there’s a little brouhaha brewing over this story and the embargo time being broken. Combatants include Mashable and Venturebeat. The policy of this site has always been, and will remain, that we will always respect embargoes, but having said that we don’t like them all the time either. I’m constantly forgetting to post things because the PR rep gave the story to me with a 2 week embargo. Insane. However, given the time differences involved a 24 hour embargo or there about gives everyone a fair shot at the story no matter where they live, so they should be respected where ever possible.


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