Personalized Radio Site Last.fm Gets Funding

Last.fm, the London-based online radio personalization site which has become popular over the last year, has received first round venture funding led by Index Ventures. Index joined angel investors and Joi Ito, Reid Hoffman, and Stefan Glaenzer in the round.
It will use the funding to broaden its product offering and expand its business development efforts with the music industry.
The site has exploded in popularity since last August when it launched a new method of music discovery that recommends songs by tracking a listener’s song-playing habits and automatically mapping them to fans with similar tastes. It started as an alternative music label in 2003, has attracted 8,000 independent artists and music labels.
More details in the release here

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