Buzznet, a Los Angeles-based social media site that presently ranks in the industry’s top 20, has secured funding to the tune of some $25 million, according to Rafat Ali of PaidContent.org.
We’ve covered Buzznet numerous times in months past, when it went through changes in its executive circle and later when it launched a redesign, which our own Kristen Nicole considered an attractive development for the company. Now the network, centered around the pop culture space, is aiming to grow with investments made by Universal’s Interscope label, among other parties. The entire list of contributors to Buzznet’s so-called “third round” has yet to be disclosed, as does the final sum of finances given in total.
Somewhat like Imeem, a site that is also throughly grounded in music, Buzznet has shown itself to be a popular item among fans of independent and signed, big-name artists. Since its founding, the site has managed to establish relations with a number of acts, like Fall Out Boy and Avril Lavigne. Also, it is said that Buzznet has brought “the influential indie music blog Steregum” fully under its canopy.