Sugar Publishing, which publishes the PopSugar celebrity gossip blog, has raised about $5 million in funding from Michael Moritz at Sequoia Capital. TechCrunch and Om Malik first reported the news. This is the second blog network to receive funding in the past couple weeks. The funding, said to be "about $5 million," is about 2.5 times that raised recently by b5media. The Sugar network also has a social networking component with the Team Sugar website. The company plans to launch more blogs in the near future according to TechCrunch.
