San Francisco - GoFish, an online youth entertainment and media network, said on Monday that it has raised $1.5 million through a private placement.

Under the deal, the San Francisco-based company sold convertible notes due in 2010 to accredited investors.

"This financing will allow us to continue to implement our sales and marketing strategy," said Tabreez Verjee, the president of GoFish.

The company said that its network of owned and operated sites reaches more than 60 million unique users worldwide.

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