CNET también está disponible en español.

Ir a español

Don't show this again

PS5 preorders Animal Crossing: New Horizons fall update Amazon showcase Second stimulus check Amazon Echo 2020 Amazon Echo Show 10 New Alexa features

Buzznet gets $12.5 million round, changes name

The operator of pop culture and music sites has landed itself a fourth round of funding. And call it Buzz Media from here on out.

Despite its reliance on advertising revenue in a difficult economic environment, Buzznet announced Thursday it has raised a $12.5 million fourth round of venture funding.

Focus Ventures led the round, with existing investors Anthem Ventures, New Enterprise Associates, Redpoint Ventures, and Sutter Hill Ventures participating.

Buzznet, which operates such Web sites as Celebuzz, Socialite Life and Videogum, also announced that it is changing its name to Buzz Media.

Buzz Media declined to comment on whether it received a higher or lower valuation in its fourth round. But CEO Tyler Goldman said: "I thought it was a fair valuation and a high valuation."

In the fall of 2007, the company raised approximately $15 million in a third round of funding. To date, Buzz Media has raised approximately $35 million, Goldman said.