Buzznet Raises $25 Million
paidContent.org have reported that Buzznet has raised $25 million in a third round of funding. Additionally, it was learned that Universal Music-owned Interscope has invested a few million in it. It hasnt been confirmed who the other investors are, but im guessing some of the funding would have come from previous investors such as Redpoint Ventures and Anthem Venture Partners.
Also, recently, investors Bob Pittman, of the Pilot Group and Sling Media’s Jason Hirschhorn traded their equity stakes in the influential indie music blog Stereogum for an ownership percentage of BuzzNet. Thus, it has been confirmed that Stereogum is now fully owned by Buzznet. Today it has also be reported that Buzznet has now acquired Qloud. Has this new $25 million gone to the acquisition or has it been raised to make Buzznet more like mainstream media.
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