Buzznet Lands $6 Million Round of Financing Led By Redpoint Ventures and Anthem Venture Partners

Same Venture Capital Firm That Pioneered MySpace Backs Leading Next

Generation Social Media Company



May 24, 2007, 01:00 ET from Buzznet

    HOLLYWOOD, Calif., May 24 /PRNewswire/ -- Buzznet, a social media
 network with more than 6 million users and the fastest growing social
 networking site according to leading market research firm Hitwise, today
 announced it has closed a $6 million round of financing led by Redpoint
 Ventures of Menlo Park and Anthem Venture Partners of Santa Monica.
     With an initial focus on music, Buzznet has quickly distinguished
 itself from traditional social networks that are focusing primarily on
 messaging and basic profile pages. The company offers tools and versatility
 that enable Web users to program, participate, interact, and create vibrant
 multimedia communities around topics and content they are passionate about.
 This unique and intimate approach has established Buzznet as the
 destination of choice for people seeking the most current and authentic
 content and news created by leading trendsetters and influencers, as well
 as their peers.
     Providing the broadest mix of self-expression and communication tools,
 Buzznet is also attracting world famous bands, including Fall Out Boy, AFI
 and Cartel, up-and-coming indie artists and internet celebrities such as
 Jeffree Star to create and grow their own active online communities where
 they can personally interact with their fans.
     "Our bands are all about having a close relationship with their fans,"
 said Jonathan Daniel, Founder Crush Management. "Pete Wentz from Fall Out
 Boy discovered that their fans love connecting with him through Buzznet,
 which is why we chose them as a partner for friendsorenemies.com."
     Anthony Batt, Founder & President, Buzznet commented, "We're extremely
 proud of the success of our music community and we're looking forward to
 using the same model to expand into other areas of pop culture that will be
 of equal interest to our users."
     About Buzznet
     Los Angeles-based Buzznet Inc. creates and maintains Buzznet.com, the
 fastest growing social media community for music on the Internet. Launched
 in 2005, the company was built from the ground up to feed the needs of the
 rapidly emerging social media category whose users are no longer satisfied
 with just consuming media and instead prefer to participate in media by
 building communities around the content they create, find, and remix.
 Buzznet's members produce and share original content with a raw, edgy and
 honest voice that is attracting the next generation of media consumers
 seeking authenticity. With over 5,000,000 viewers and featured communities
 created by top bands and social trendsetters, Buzznet has established
 itself as the premiere site to discover what is new and "cool" in the world
 of music and pop culture. For more information visit http://www.buzznet.com
 
 

SOURCE Buzznet