Recommendation Engine Provider MyStrands Receives $25 Million In Funding
A huge amount for what it is, though it shows recommendation is gaining traction as a solution to the content discovery dilemma. MyStrands has raised $25 million in its second round of funding, according to the company’s blog. The main investor is 25 year-old Spanish media mogul Antonio Asensio, owner and CEO of the Spanish media group Grupo Zeta. Existing investors Debaeque and Sequel are also backing this round. This latest rounded brings total investment in MyStrands to $31 million. The details are thin, but the company has told me it plans to sharpen its focus on delivering mobile advertising – a feature that would likely get a lot of mileage out of the social networks already forming around MyStands’ music recommender services. MyStands was founded in 2003, and based in Corvallis, Oregon.
SEE ALSO: Music Recommendation Makes Its Move; Gracenote Goes Mobile
Competition is fierce in the category: Last.fm got recently bought by CBS, then there’s Pandora, iLike, Mog and others in a similar space. Looks like MyStrands wants to make a big push in mobile music as a differentiator.
Posted In: Advertising, Entertainment, Money, M&A & Venture Capital, Social Media, Technologies / Formats
Kindle (Paid)
Social Standing
Which media brands are getting a lift from Tweeters and bloggers right now -- and which are getting panned?
Show Me: