Buzz Media raises $12.5M for its pop culture properties
Buzz Media, the social media network formerly known as Buzznet, has announced raising a $12.5 million round of funding. The fledgling media company has garnered recent attention with its growing portfolio of music and celebrity themed web properties including its flagship Buzznet, Stereogum, WWTD, and Idolator.
Despite a recent round of layoffs, today’s news shows no signs of the company slowing, as the funds are slated for the continued growth of its portfolio.
Otherwise, it’s business as… Continue Reading
Music blog network Buzznet lays off 10
Buzznet, a social network of music and celebrity-related blogs, cut its staff by 10 to refocus efforts on its more popular products in the poor economy. For this reason, the Los Angeles-based company actually has plans to increase headcount in sales, editorial and engineering divisions, reports VentureWire.
Stereogum, Absolute Punk, Idolator and Celebuzz are all connected via the Buzznet network, which saw a 50 percent increase in revenue this past quarter. It’s last investment round, valued… Continue Reading
ComScore’s June US numbers: Facebook still gaining on MySpace while blog platforms, news aggregators, niche social networks also grow
Facebook gained nearly two million new US users from May to June of this year, while MySpace lost about a million, according to the latest data from comScore. MySpace is still nearly twice the size, though, at 72.8 million national users versus Facebook’s 37.4 million. Facebook has, meanwhile, grown 34 percent since June 2007, while MySpace has grown only two percent. A range of smaller, niche social networks — and related social web sites —… Continue Reading
Roundup: Social network Hi5 launches its developer platform, Facebook does regular old targeted advertising, and more
Here the latest action:
Social network Hi5 publicly launches its developer platform — San Francisco-based Hi5 may be a big opportunity for developers of third-party applications that live on social networks. It is popular in places like Portugal, Thailand and select countries of Latin America. Overall, it’s one of the largest social networks worldwide, with more than 35 million monthly active users — and the company claims that only 25 percent of them also have profiles… Continue Reading
Buzznet, yet another social network, raises $6 million
You might think that by now, VCs would use business plans from new social network companies as kindling.
But Hollywood-based Buzznet, a network devoted to allowing indie music fans to bond over the bands they love, has raised $6 million in its second round of funding from Redpoint Ventures and Anthem Venture Partners. It was valued at more than $20 million, post-investment.
The site is different than music networking sites such as Last.fm . Instead of… Continue Reading