Palo Alto, Calif. - Project Playlist, a site that lets users build song playlists and share them across social media sites, has raised around $20 million in new financing, and named former Facebook executive Owen Van Natta as its new CEO, VentureBeat reported.

Los Angeles - Social music service imeem has surpassed Yahoo (NASD: YHOO) to become the top streaming music service, claiming 10.3 million unique visitors in March, Wired.com reported, citing data from analytics firm Compete.

San Francisco - Project Playlist, a service that aggregates streaming music links into playlists, and has been sued for copyright infringement by three of the four major record labels, has hired former Recording Industry Association of America (RIAA) CEO Jay Berman as a consultant, CNET News.com reports. Project Playlist CEO Jeremy Riney told News.com that he will shut his site down if he is not able to license music legally from the labels; the sole major not party to the lawsuit against the company, Sony BMG, is reportedly negotiating with Project Playlist.

New York - Divisions of three of the four major record labels on Monday filed copyright infringement lawsuits against Project Playlist, a site that lets users create playlists from streaming songs served from all over the Internet, Reuters reported. For its part, Project Playlist maintains that it does not host any music files, but instead merely links to files on many third-party sites, including many on record label websites.

Beverly Hills, Calif. - Project Playlist, a service that lets users share music playlists on blogs and social network profiles, has raised $3 million in its first round of funding, PEHub.com reported, citing a regulatory filing.