Summary:

Music and media-sharing site Playlist has named Owen Van Natta as its new CEO. Van Natta is a social media vet, having most recently served…

Music and media-sharing site Playlist has named Owen Van Natta as its new CEO. Van Natta is a social media vet, having most recently served as Facebook’s COO and CRO. The Palo Alto, CA-based company also announced that it received an undisclosed investment from Pilot Group and its founding member Bob Pittman will join Playlist’s board. Playlist raised $3 million in its first round last year, and launched Project Playlist, which lets users create and share online playlists, port them to their social media profiles and buy associated ringtones. It has considerable competition from newcomers like blip.fm and last.fm, not to mention MySpace Music. Meanwhile Van Natta’s former employer has its eyes on a share of the online music pie as well. Van Natta was also one of the shortlisted candidates for the MySpace Music CEO job, which he didn’t take or MySpace didn’t choose him, whichever version you want to believe in. Release.

Update: Rafat adds: Kara says the new funding is much larger than the first round, and is around $18 to $20 million. Playlist has been borderline legal for a while, offering links to many illegal music sites (shades of *Baidu* in China), besides links to other legit sites as well (think of is as lead gen) and RIAA and music labels filed a lawsuit against the company. But Playlist may have to completely clean up its act now that it has a high profile CEO and funding from Pittman, and maybe even use some of the new funding as settlement money.

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