Buzznet Raises $12.5 Million; Leading Social Media Publisher Changes Name to Buzz Media to Reflect Expanded Portfolio

Focus Ventures Joins Round to Support Enormous Audience and Sales Growth

LOS ANGELES Buzznet, which operates the web’s largest community of pop culture web sites with an audience of 40 million unique monthly users, today announced that it has changed its name to Buzz Media, Inc. The newly-named company will focus on the continued growth of its socially programmed web sites, including Celebuzz, Buzznet, the Superficial, SocialiteLife, What Would Tyler Durden Do, Stereogum, Idolator, Just Jared and Absolute Punk.

In addition, Buzz Media announced that it has secured a new round of financing totaling $12.5 million. Focus Ventures, a Palo Alto, California based venture firm with more than $830 million under management, joined the latest round. Existing investors, including Anthem Ventures, New Enterprise Associates, Redpoint Ventures and Sutter Hill Ventures, also participated in the round.

Buzz Media’s unique social programming platform enables its professional editorial teams to leverage the programming contributions from its audience of millions of passionate and knowledgeable members. This approach allows the company to cost-effectively program thousands of topics in a deep and dynamic manner, driving a large, engaged, influential and loyal audience across its leading pop culture branded properties.

“This latest round of financing further validates our strategy of using social programming to build the most authentic and authoritative pop culture brands on the web,” said Tyler Goldman, CEO, Buzz Media. “In these challenging economic times, it’s also extremely efficient.”

Buzz Media will use the funds for the continued growth of its portfolio of leading pop culture properties. More than 40 million people worldwide visit Buzz Media properties every month. The company’s pop culture focused portfolio includes leading online music and celebrity destinations.

“Buzz Media’s unique publishing approach has not only allowed it to build the leading pop culture brands on the web, it has also enabled the company to produce highly programmed campaigns within its portfolio of leading branded properties for advertisers to engage its large and influential audience,” said Steve Bird at Focus Ventures. “We believe that these types of highly targeted and content-rich experiences are a major part of the future of advertising on the web, and are pleased to lead this new round of funding.”

Focus Ventures, Buzz Media’s newest backer, specializes in privately held, expansion stage technology companies. Other investments have included EqualLogic, acquired by Dell, Pure Digital, and Six Apart.

About Buzz Media Inc.

Buzz Media Inc. is the web’s largest pop culture community. By utilizing its proprietary social media platform, the Buzz Media team brings together professional news content, respected voices in the industry, and user-generated input to create the most up-to-the-minute, deep and dynamic content on the web, allowing passionate members the ability to consume, create, and connect. Celebuzz is a pop culture and community destination presenting the most comprehensive and colorful coverage on celebrity. Buzznet is one of the fastest growing online music communities providing fans the platform to create in-depth music experiences surrounding artists and bands they love.

For more information, please visit: buzz-media.com.

Source: Buzz Media Inc.