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"Buzznet, a Los Angeles-based social media site that presently ranks in the industry\u2019s top 20, has secured funding to the tune of some $25 million, according to Rafat Ali of PaidContent.org.\nWe\u2019ve covered Buzznet numerous times in months past, when it went through changes in its executive circle and later when it launched a redesign, which our own Kristen Nicole considered an attractive development for the company. Now the network, centered around the pop culture space, is aiming to grow with investments made by Universal\u2019s Interscope label, among other parties. The entire list of contributors to Buzznet\u2019s so-called \u201Cthird round\u201D has yet to be disclosed, as does the final sum of finances given in total.\nSomewhat like Imeem, a site that is also throughly grounded in music, Buzznet has shown itself to be a popular item among fans of independent and signed, big-name artists. Since its founding, the site has managed to establish relations with a number of acts, like Fall Out Boy and Avril Lavigne. Also, it is said that Buzznet has brought \u201Cthe influential indie music blog Steregum\u201D fully under its canopy.\nIt would be sensible to assume that Buzznet would use a sizable portion of its latest funding round to make further acquisitions and/or strike more partnerships with content owners."^^<http://www.w3.org/2001/XMLSchema#string>
<http://mashable.com/2008/03/29/buzznet-funding/>