Streaming Music Service imeem Gets $2.4M; Seeks $4M More

Authored by Mark Hefflinger on June 12, 2009 - 7:20am.

San Francisco - Streaming music service imeem raised $2.4 million from an undisclosed investor in April, and is in the process of trying to raise another $4 million, PaidContent reported, citing a regulatory filing.

PaidContent speculated that the investor "is likely to be" Sequoia Capital,

The free, ad-supported music site recently benefited from renegotiated licensing terms with the record labels, and the pardoning of $4 million it owed in streaming royalties to investor Warner Music Group.

Related Links:
http://snipurl.com/jzswn (PaidContent)

http://snipurl.com/jzs05 (DMW previous coverage)

http://www.imeem.com