Buzznet raises $12.5 Million
Printer Print Email Email
Los Angeles: Buzznet, which operates the web's largest community of pop culture web sites with an audience of 40 million monthly users, has secured a new round of financing totaling $12.5 million. Focus Ventures, a Palo Alto, California based venture firm with more than $830 million under management, joined the latest round. Existing investors, including Anthem Ventures, New Enterprise Associates, Redpoint Ventures and Sutter Hill Ventures, also participated in the round. The company has also announced that it has changed its name to Buzz Media. The newly-named company will focus on the continued growth of its socially programmed web sites, including Celebuzz, Buzznet, the Superficial, SocialiteLife, What Would Tyler Durden Do, Stereogum, Idolator, Just Jared and Absolute Punk. Buzz Media's social programming platform enables its professional editorial teams to leverage the programming contributions from its audience of millions of passionate and knowledgeable members. This approach allows the company to cost-effectively program thousands of topics in a deep and dynamic manner, driving a large, engaged, influential and loyal audience across its leading pop culture branded properties. "This latest round of financing further validates our strategy of using social programming to build the most authentic and authoritative pop culture brands on the web," said Tyler Goldman, CEO, Buzz Media. "In these challenging economic times, it's also extremely efficient," he added. Buzz Media will use the funds for the continued growth of its portfolio of leading pop culture properties. More than 40 million people worldwide visit Buzz Media properties every month. The company's pop culture focused portfolio includes leading online music and celebrity destinations.

Digital Supply Chain Transformation – Winning the AI/ML Way