Tuesday, February 21, 2006

Loudeye Gets $8.25M in Private Placement

Seattle-based Loudeye has garned another round of equity financing. The publicly listed firm said this morning that it has received $8.25M in a private placement with institutional investors. The company did not disclose who the investors were. The company sold 16.5M shares of common stock and warrants to purchase 12.375M shares of common stock. Loudeye said that the net proceeds will be used for working capital and general corporate purposes. Loudeye develops digital media solutions targeted at the B2B market.