Music Site Imeem Grabs More Sequoia Financing
April 16, 2008 at 5:37 AM (PT)
Music site/social network IMEEM has taken a follow-on investment from SEQUOIA CAPITALreports THE SILICON ALLEY INSIDER. SEQUOIA mentions the deal in its monthly "GreenSheet" summation of company news, but doesn't specifiy the amount; an IMEEM spokesman declined to comment.
Last week IMEEM finished acquiring SNOCAP for a sum thought to be less than $5 million; other investors include MORGENTHALER VENTURES and WARNER MUSIC GROUP, which got an equity stake when it settled a copyright suit last year. IMEEM also has deals with the other three major music labels, who allow it to let users stream their music for free, on demand.