Music-focused social networking site Imeem has raised about $2.4 million recently, and is looking to raise about $4 million more, according to a recent SEC filing about the money raised. It is not clear from the filing who it raised more money from, and the company refused to comment or clarify the filing. What is clear that the money was raised from a single previous investor, which is likely to be Sequoia Capital in this case.
This comes on heels of its almost-back-from-the-brink successful attempt to get better licensing terms from the labels, moving them away from the onerous pay per stream model (it is a free site, ad-supported) to a revenue-per-user model, and lower streaming fees, according to reports. The company told us earlier that