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PayPerPost Raises $7M in VC Funding

Controversial advertising platform PayPerPost has secured additional venture capital funding to the tune of $7 million, reports TechCrunch.

Draper Fischer Jurvetson, which served as a smaller investor in the first round of funding, has taken the lead in the Series B round. By adopting a larger stake, the firm was able to secure a seat on PayPerPost's board.

PayPerPost offers bloggers money by connecting them with advertisers seeking blog mentions, which word-of-mouthers generally perceive as credible and influential.

Its seeming violation of the trust between blogger and reader - trust based on transparency and openness - has led to criticism by many.

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