PaidContent.org gets paid for content
ContentNext Media, a website operator best known for online-media blog PaidContent.org, has taken a first round of funding from Greycroft Partners, the latest investing vehicle for private equity biggie Alan Patricof. ContentNext founder Rafat Ali describes the funding as the "next big step" since his site's launch in 2003. A gaggle of bloggers logged comments on his post to bask in the reflected warmth of the infusion of capital: "This is not only a good day for you and your team but also a great day for blogging and all of the bloggers," writes one.
Ali's new backer, Patricof, is the celebrated investor known for putting money behind Apple, AOL, New York magazine, and Office Depot, among others. Patricof also backed Wolff New Media, the ill-fated startup of journalist-turned-entrepreneur-turned-journalist Michael Wolff, who later penned the book Burn Rate, a bemused reflection on his own dealings with Patricof, media revolutions, and liquidity events. 
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