Thursday, March 19, 2009

Buzznet Raises $12.5M More

Los Angeles-based Buzznet, which operates a network of web sites focused on celebrities and pop culture, announced this morning that it has raised $12.5M and will rename itself Buzz Media. According to the company, the funding round was led by Focus Ventures, and also included Anthem Ventures, New Enterprise Associates, Redpoint Ventures, and Sutter Hill Ventures. Buzznet operates a network of music and celebrity focused web sites, including Celebuzz, Buzznet, the Superficial, SocialiteLife, What Would Tyler Durden Do, Stereogum, Idolator, Just Jared and Absolute Punk. The firm said the funding will go towards "continued growth of its portfolio."Buzz Media said it now has more than 40 million people visiting its web sites every month. Based on prior funding announcements, the firm has now raised at least $44.5M. More information »

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