Report: New Funding Keeps Imeem Out Of The Deadpool

imageMusic-focused social networking site Imeem hasn’t found a buyer yet, but CNET is reporting that it just got a fresh influx of cash to help stay afloat a little longer.

The site, which lets users stream ad-supported tracks, put itself up on the block late last year. It was buckling under the weight of the less-than-lucrative licensing deals it had brokered with the record labels — not to mention the economic meltdown. Imeem still needs to raise more cash though; sources told CNET’s Greg Sandoval that the new money isn’t likely to last through the end of the year.

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