From SoCalTech- Ben Kuo
PluggedIn Launches, Gets Funding
Santa Monica-based PluggedIn announced Tuesday evening that the firm has launched a beta of its website, and disclosed funding from Overbrook Entertainment, the entertainment firm run by Will Smith, James Lassiter and Ken Stovitz. Financial terms of the investment were not disclosed, however Paidcontent reports the investment was worth approximately $2M.
PluggedIn said that it will offer free streaming of high quality, music videos in HD and broadcast quality, including content from EMI Music, Sony BMG Music Entertainment, and other labels. The firm is headed by Jeff Somers, who has served at Amazon and Zillow, and also includes Brett O'Brien, founder of Xdrive; Kevin Welk, CEO of Vanguard and Sugar Hill Records; JJ Aguhob, of Xdrive, AOL, and MySpace, John Gaa, also of Xdrive and also at Sony, and Nicola Marzolla, from Yahoo Music.