Music Website Popdust Raises $4.5M

[Techtaffy Newsdesk]

Popdust, a pop music website, has announced completion of a $4.5 million Series A Preferred Share fund raise led by New Enterprise Associates. RRE Ventures, SoftBank Capital, and Project A Ventures, along with other individual investors, also participated in the fund raising.

Since launching in 2011, Popdust has already reached nearly 1 million unique monthly visitors. The management team is led by new CEO Hugh Panero, former CEO and Founder of XM Satellite Radio; David Wade, Co-Founder/President; and Co-Founder/Editor-In-Chief Craig Marks, former top editor of Spin, Blender and Billboard.

Popdust investors include Lerer Ventures, New Enterprise Associates, Softbank Capital and RRE Ventures.

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