Phorm Seeks ‘$65 Million More Funding’: Report

There’s no story source, and precious little information, but claims ISP-level behavioural ad network Phorm “is seeking $65m to fund overseas expansion”. The company has yet to roll out its service and the UK, and is still wrestling with privacy fears sparked by the fact BT (NYSE: BT), Virgin Media (NSDQ: VMED) and Carphone Warehouse will sell to it data on all their users’ browsing habits, so any expansion would be highly speculative at this point. Elsewhere, reports Phorm “said it was negotiating a $65m equity fund raising”.

ClickZ speculated last week when it said: “The company already has a New York address, and although (its press director) did not explicitly state that Phorm is eyeing the US market, he did tell ClickZ News that senior UK staff are currently in the US.” Phorm stock was still trading low today after a big drop yesterday on privacy concerns.