DanceJam Raises $3.5M

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DanceJam, the pre-launch online video startup best known for being founded by MC Hammer, has raised $3.5 million from Softbank Capital and Rustic Canyon, as first reported by TechCrunch. Along with angel funding, that brings the company’s total to $4.5 million. DanceJam, which aims to be a competition-driven community for dance video, has had its launch delayed for the last couple months, but CEO Geoffrey Arone promises it is imminent.

Above is our GigaOM Show interview with MC Hammer from December. If DanceJam succeeds with dance, Hammer and Arone say they hope to extend their social video platform to other genres such as extreme sports.

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