Entertainment Community Site uPlayMe Gets Second Round Funding

uPlayMe, which has developed a desktop app that connects people through their shared tastes in music, movies, TV shows and other digital media, has closed a “multi-million dollar” second funding round. The New York-based company’s backers include Warner Music Group (NYSE: WMG), Village Ventures, and others. The participation of WMG in the round has given uPlayMe hope that it can win the support of other large media companies. The company, which started with $1 million in seed funding, plans to use this current financing for additional product and service development and distribution. In an interview with Folksonomy last month, David Fishman, uPlayMe’s CEO, said he sees the company as a competitor against other recommendation community sites such as LastFM and iLike. In terms of its business model, uPlayMe generates commissions from sales off of Amazon and iTunes, as the site’s users click through links that redirect to those online stores. Release