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Widget ad network Clearspring raised another $18 million in a third round of funding. New Enterprise Associates led the way and previous backers including Novack Biddle Venture Partners joined in, too. Is the so-called "widget economy" really so big that Clearsping, RockYou, and Slide are worth the $118 million they've collectively raised this year? Not even according to Clearspring CEO Hooman Radfar, who told PaidContent, "We generally think there's a healthy ecosystem that's going to continue to grow," but that "you literally can't have as many companies that there are" in the space. Especially since ad projections for social networks are getting knocked down from their frothy heights. eMarketer has reduced its 2008 estimate on social-network ad spending from $1.8 billion to $1.4 billion.
Widget bubble inflating, deflating
2:00 PM on Wed May 21 2008
By Nicholas Carlson
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