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
Roundup: Uber closes down, Yahoo speaks on Yahoogle and more
Uber, an also-ran social network turned microblog platform, closes down — Investors included Universal Music Group and Sterling Stamos Co-Investors fund. The company claimed that it closed down due to economic issues, as you can read on its site. More on PaidContent.
Mobile payment company Transaction Wireless raises $2.25 million — Funding comes from Mission Ventures and Okapi Ventures.
House debates about how its members can use web video, devolves into childish squabbling — The Senate has already avoided such… Continue Reading