MOG closes $5 million financing round with Menlo Ventures
Greetings Moggers,
Wanted to give you a heads up on our new round of funding with Menlo Ventures. We're super excited about this and stayed tuned for some major announcements from us in the near future. We're at 8 million monthly uniques now and just getting warmed up. Some BIG THINGS coming down the pipe...
Some coverage here:
http://paidcontent.org/article/419-music-blog-network-mog-raises-5-million-from-menlo-ventures/
http://www.readwriteweb.com/archives/mog_music_service_raises_5_million_dollar_round.php
http://www.hypebot.com/hypebot/2009/08/music-blog-network-mog-gets-5-million-more.html
http://www.digitalmusicnews.com/stories/082709mog
Formal press release here:
Menlo Ventures Leads $5 Million Investment in MOG
Berkeley, CA—August 28, 2009—MOG (http://mog.com), the Web's premier music blogging network, today announced that it has closed a $5 million equity financing round. The round was lead by Menlo Ventures. Long-time investors Simon Equity Partners and Scott Jones have also invested in this round and will be joined on the board by Sonja Hoel
Perkins of Menlo Ventures. MOG has raised $12.5 million dollars in funding to date.The Web's premier music blogging network, MOG receives over 8 million unique visitors per month and generates over 6,000 music blog posts per week. These posts are all hand-curated, resulting in the Web's best daily music destination, MOG.com. MOG makes it easy to dig deep and find up-to-date information on favorite artists, albums, or songs by searching an archive of hundreds of thousands of blog posts."With a partner like Menlo Ventures, MOG is in a terrific position to make a colossal impact in the online music space. We have plans to be a leader in not just editorial music content but in music listening as well" said David Hyman, MOG founder and CEO. "David Hyman and his team have built a company that is poised to dominate a market segment where there is yet to be a clear leader," said Sonja Hoel
Perkins of Menlo Ventures. "We have been impressed with MOG's team, technology and deep understanding of an industry wrought with change and enormous upside potential."Anyone can access MOG's content for free. A free account is required to contribute content to the site. To set up a music blog, or read what's going on in new music, go to http://mog.com.Music bloggers and websites interested in joining MOG Music Network can find additional information at http://mog.com/mmn. Current advertisers include Scion, TAG (P&G), Xbox, Nike, and LG.
Comments (30)
Nice press release.
Those are some big cash numbers.
Congratulations are in order! MOG Rules!!!
Kudos, MOGmaster!
very nice David. my breath is bated!
Way to go!
thanks guys.
GR8!!! This Robert wishes you plenty of luck.
just make damn sure Sonja gets my phone number...
Congratulations to you and your awesome team on the much-deserved success!
I didn't know that MOG already has deals with Sony and Universal, halfway there! Also - congrats on the quality of ads you are attracting - they've been a real step up from past years. Can hardly wait for new streaming service!
pimp, i'll get right on that!
hehe she's a real cutie
thanks all!
Congrats- I know you've been working real hard on our behalf to bring us more and a bigger and better MOG, and we all thank you. Can't wait to say congrats on getting WEA and EMI to play nice and join the team!
super, duper awesomeness!!!! congrats! :)
Congrats David and MOG! This is great news and a great press release too! As you grow and expand let me know if there is any way I can help!
congrats, I'm sure it's a day of celebration out there!
Cool! Congrats David!
Cool beans! Lots of changes!
MOG is going to take over the entire music industry. OK, maybe I'm going a little over the top...
hand curated? Is there any other kind?
Congrats! Keep up the great service and good luck on new players! :}
Congrats to my fave Mogfather. Now, about that loan I need...
But wait...6,000 posts per week? Even counting comments, that has to be WAY off!
congrats!
*(belated) standing ovation*
This is incredible, Hyman! Congratulations!!! Yeah you ARE the Mogfather!
dude
its great &passionate
Is the "next big thing" that you've got your hands on a direct stream app. by any chance?
Congratulations on the funding opportunity. I'm sure you've got a lot of very excited investors, advertisers and network content providers who'll be patiently awaiting positive results and fancy ROI's,