Do not waste that money buying PPC as this will just be a good way to burn the money you have.
However do spend the money as the others said on content (not any content but the content your users are looking for). 10k or so on someone dedicated for six months to release a press release a week for six months and get it in the right hands.
5k on a gadget other webmasters such as http://www.sbrlines.com would like to include on their site.
5k entertaining other webmasters at conferences and networking.
My two cents, or should I say 100k!