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OMG: Music Streamer MOG Raised $9.5 Mill

  • Mashable, Friday, February 26, 2010 1:35 PM

Curiously named on-demand music streaming service MOG just raised an additional $9.5 million in funding. The funding round was led by existing investor Menlo Ventures, along with Balderton Capital. To date, the startup as already secured backing from Universal Music Group and Sony Music, and has raised over $10 million in angel and Series A rounds. Since its December launch, MOG has sought a share of the subscription music business by offering users 256kbps streams for a $5-per-month fee.

The space, however, is already quite crowded with entrenched players like Napster, Rhapsody, and the domestically destined Spotify. MOG, for its part, sees growth opportunities abroad -- and in Europe in particular -- as well in the mobile space. It's also open to various partnerships. To attract new users, MOG is also increasing its free trial period from one hour to three days.

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