GMN.com Announces $12 Million in Financing
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Global Music Network, Inc., a site for live performances of classical, opera, and jazz music, announced Wednesday that it has received a private placement in the amount of $12 million. GMN.com will utilize a significant portion of these funds to expand its marketing, content development and acquisition, and e-commerce activities.
The $12 million venture financing was led by the New York-based investment bank CE Untenberg, Towbin.
This financing comes on the heels of a successful second quarter for the emerging music portal which included:
- The formation of relationships with Intel, Liquid Audio, Microsoft, Real Networks, InterVu, and CyberSource
- Broadcast of the first live video of an opera from the prestigious Mariinsky Theatre (Kirov Opera)in St. Petersburg, Russia
- Addition artists to its roster including Valery Gergiev and Dr. Billy Taylor; festivals such as Mainly Mozart in San Diego, White Nights Festival in St.Petersburg, JVC Jazz Festival, and Caramoor; and venues such as Birdland in New York City.