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

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

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/

First Call Analyst:
FCMN Contact:

Source: Buzznet

CONTACT: Amanda Sanyal of Sutherland Gold Group, +1-415-934-9600,
amanda@sutherlandgold.com, for Buzznet; or Jennifer Garnick of Buzznet,
+1-213-252-8999, ext. 297, jgarnick@buzznet.com

Web site:

http://www.buzznet.com/

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