Publicly traded podcast hosting, advertising, and technology company Libsyn has raised $4.75-million dollars in equity financing led by Camac Partners. Camac is a private investment firm that specializes in what it terms “fringe investing.” The company describes its investments as “long-term in nature” lasting “decades rather than months or years.”
The funding was accomplished through a stock sale: 1.27-million LSYN shares at $3.75 per share, the current price.
Libsyn used this announcement to disclose that its Advertisecast subsidiary earned $18-million in 2021, a gigantic leap from the $12-million revenue in 2020. Libsyn acquired Advertisecast in June of last year.
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