Ad-Supported Music Service SpiralFrog Raises $2 Million

Authored by Mark Hefflinger on January 3, 2008 - 7:29am.

New York - SpiralFrog, a free, ad-supported digital music service, has raised $2 million through a private placement of its senior notes.

New York-based SpiralFrog offers users a catalog of around 800,000 tracks, from Universal Music Group and many independent labels, which can be downloaded for free so long as users listen to audio ads, and continue to renew their free subscriptions.

The company will use the net proceeds from the offering to fund growth, including potential content acquisitions.

Related Links:
http://snipurl.com/1whei

http://www.spiralfrog.com

Published in DMW Daily, January 3, 2008

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Comments

Spiralfrog

Submitted by anonymous (not verified) on January 3, 2008 - 10:25am.

Looks as if it's nearly over for the frog. that's now $12 Million in loans, with a monthly burn rate of over one million they should blow through this extra $2 million within a month or two.