Buzznet Acquire AbsolutePunk.net: Joins Stereogum, Idolator and More.

Steven Finch — Tue, 06 May 2008 11:57:31 +0000

Buzznet have been definitely on a buying spree lately, especially after obtaining $25 million in funding from companies such as Universal. Previously, Buzznet purchased Stereogum, Idolator, Qloud and started Videogum. This time they have purchased another music site, Absolutepunk.net.

Personally, im not too sure about the approach of Buzznet. Buzznet are trying to position themselves as the one stop music destination. Instead of maximising their own site first, they have received funding and are trying to buy marketshare. Why not simply find a better monetization strategy then just Google Adsense!! Im sure Buzznet will not be receiving a high click through rate with Adsense, so why not try to find a premium CPM based network instead?

Buzznet Raises $25 Million

Steven Finch — Tue, 01 Apr 2008 21:18:59 +0000

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.

Crenk » buzznet

Buzznet Acquire AbsolutePunk.net: Joins Stereogum, Idolator and More.

Buzznet Raises $25 Million