Buzznet Flies Away with $6 Million In Funding

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[ Social Media]

Buzznet isn’t the biggest social network around, but it is one of the fastest-growing.  In a recent round of financing, the company won the ability to expand even more – Buzznet took in $6 million.

Buzznet also has about six million users, so that makes for a pretty decent dollar-to-person ratio.  According to a press release, Redpoint Ventures and Anthem Venture Partners were the top check-writers behind this windfall.

A Hitwise report from March places Buzznet seventeenth among social networking sites, though (in terms of US market share), so a little background may be necessary.  The company writes, “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 also claims to offer “tools and versatility that enable Web users to program, participate, interact, and create vibrant multimedia communities around topics and content they are passionate about.”

To be honest, Buzznet doesn’t look like my kind of site – its content and overall style are more “punk” and “pop” than I’d like.  But “passionate” seems to be the right word to describe its users – Hitwise’s LeeAnn Prescott indicates that visits to Buzznet increased by 148.4% between January and February.

With some rather “passionate” investors onboard now, as well (even if Redpoint Ventures and Anthem Venture Partners can’t match Microsoft’s enthusiasm), Buzznet’s fortunes could really begin to soar in the near future.

Buzznet Flies Away with $6 Million In Funding
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