Start-up company Redband Broadcasting Tuesday secured
$17 million in first-round funding from Sony Music Entertainment and
VantagePoint Venture Partners. The company will invest the capital in marketing, talent and partnerships.
The company is spin-off of LookSmart, a provider of Internet search infrastructure, which will retain an equity stake in the company. Redband produces, aggregates and
syndicates exclusive audio programs on the Internet, spanning news,
entertainment, lifestyle, money and technology categories.
On-line distribution will be accomplished through syndication, viral
adoption and the Redband Network, which includes distribution through Sony
Music Entertainment-affiliated Web sites and the LookSmart
navigation network. Lifestyle programming also will be distributed
via partners in on-air radio, Internet satellite services and
Web-enabled wireless devices and mobile phones.
Redband will launch with proprietary content, massive distribution and a
differentiated audience, reported Val Landi, chief executive officer.
“With Sony Music Entertainment9s vast resources and technology, and
LookSmart9s global Internet distribution network, we are a step ahead of the
competition,” he said.