Word is spreading on the Internet about PassAlong Networks, Inc.'s recent infusion of investment capital. PassAlong is a digital music distribution and sharing service aptly headquartered in Franklin, Tennessee. According to VentureWire, the company plans to close a $30 million funding round later this month.
PassAlong, also known as the Tennessee Pacific Group, LLC, was founded in 2002 by former Microsoft executive, Dave Jaworski and, Scott Lewis, an independent entrepreneur
er. Mr. Jaworski's blog, Can't Stop the Music, can be found here. The company raised $40 million in start up monies from angel investors - an unusually substantial amount from individual investors - and also raised another $10 million in investment capital in April 2007.
Music veteran Jeff Skillen recently went to work for the company as their VP of Entertainment Relations.
PassAlong has a patent pending on its media service engine architecture, which is designed to work across all operating systems and platforms and is device-independent. It launched its first digital music download store on e-Bay in September 2004
The company has digital music catalog agreements with all four major record labels: Warner Music Group, Universal Music Group, EMI, and Sony/BMG. The PassAlong catalog includes nearly 3 million songs, including not only catalog from the majors, but also nearly 2 million independent songs in MP3 format. Most of its music is either DRM or MP3, and the company became certified by Microsoft PlayforSure in December 2004.
The music-sharing services gets its name from the fact that it allows consumers to recommend music to friends with links to song clips sent through email and instant messaging services from AOL, MSN and Yahoo. 
PassAlong Network Inc.'s portfolio of other products, many of which are interactive, includes:
StoreBlocks, an online platform of tools and templates for building digital music/media stores, including PassAlong's library of songs from the four major labels and MP3 files from independent artists. This system currently powers 120 digital music stores, including Proctor and Gamble's Julie's Jukebox;
OnTour, is an award-winning family of concert notification applications, widgets and websites;
freedomMP3, is a "non-DRM" solution, providing protection technology and media tracking services designed to safeguard artists' rights without hindering consumer rights via interoperability;.
Skylocker is a media storage and market-management platform;
Speakerheart a subsidiary of PassAlong, is an exciting independent-artist publishing and promotion system; and
Connected Consumer, a series of platforms and services aimed at enhancing the connected consumer experience.
Look for this exciting company to go places on the web.
No comments:
Post a Comment