March 20, 2009
Buzznet, which operates the web’s largest community of pop culture web sites with an audience of 40 million unique monthly users, has changed its name to Buzz Media. 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.
Buzz Media announced that it has secured a new round of financing totaling $12.5 million. Focus Ventures 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 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.