Home › DMW Daily › April 14, 2009

Goom Radio Lands $16 Million for Ad-Supported Music Streaming

Authored by Mark Hefflinger on April 14, 2009 - 7:57am.
New York - Goom Radio, an online radio firm that offers free, ad-supported programming, announced on Tuesday that it ahs raised $16 million in its first round of funding.

Investors included Wellington Partners Venture Capital, Elaia Partners and Partech International.

New York-based Goom Radio was launched in March by Rob Williams, former president of Clear Channel New York, and Drew Hilles, former head of dMarc Broadcasting.

The company plans to launch its U.S. service later this year, which will feature a mix of professional and user-created playlists; Goom Radio initially launched in France in the fall of 2008.

Goom will use the new funds to launch its offering, hire a dedicated ad sales team, and build out its infrastructure.

 

Related Links:
http://www.businesswire.com/news/google/20090414005353/en

http://www.goomradio.com

Published in DMW Daily, April 14, 2009
tags: Deals | VC | Advertising | Music | Partech International | Elaia Partners | Goom Radio | Wellington Partners VC |



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