Minnesota Public Radio Invests in Social Networking Startup

This is the first such investment from a public broadcaster that I’ve heard of: American Public Media Group (APMG), parent company to Minnesota Public Radio, has invested almost $1 million in the for-profit, Boston-based Gather.com. The new venture is a social networking website devoted to creating an online community of public-radio listeners.

The site, which has a beta version up now, will formally launch in December. It is designed for public radio’s older, more sober audience…

APMG may add several hundred thousand dollars more during the next round of financing, which aims to raise about $7 million more. In the first round, along with APMG’s million, CEO Thomas August Gerac added slightly more than $1 million as investment.

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