Mercora raises cash, plans fees

Peer-to-peer radio service Mercora said Tuesday that it raised $5 million in new funds, largely from Norwest Venture Partners.

Mercora also said it has registered 300,000 users for its free Net-based radio service. A company spokesman said it is likely to add a paid subscription level of service in the near future, but that Mercora will continue offering a free version as well.