Music blogging network MOG raises $5 million
MOG raised another $5 million to build out editorial content and advertising on its music blogging network.
Through its main site and all of its blogs, the company says it reaches at least 8 million unique visitors a month and has signed up advertisers like Nike, Procter & Gamble and LG. MOG’s business model is like Glam Media’s approach: the company builds up advertising relationships for hundreds of blogs that are tightly focused on a vertical market like music.
“We’ve seen super-rapid growth,” said founder David Hyman in an interview. “We sell ads across the top 700 music blogs and signed up all of them over the last 11 months.” Hyman also has a track record: he was also CEO of Gracenote, which was sold to Sony last year for $260 million.
The round was led by Menlo Ventures, while Simon Equity Partners and Scott Jones added on to their existing investments — bringing the startup’s total financing to $12.5 million. Sonja Hoel Perkins of Menlo Ventures will join the board.
The company has 14 employees and is based in Berkeley, Calif.
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Kim-Mai was born and raised a stone's throw from Apple headquarters in Cupertino by a devout Hewlett-Packard family. After attending UC Berkeley, Kim-Mai worked for Bloomberg, The Wall Street Journal and Dow Jones Newswires in New York, Los Angeles, London and Buenos Aires. Follow her on Twitter at @kimmaicutler, and follow VentureBeat on Twitter at @venturebeat.
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