PAY TO DATAPLAY

DataPlay, maker of a digital-storage format so small it makes our Editor In Chief feel like a real man, has closed a $55 million round of funding, bringing in bucks from Intel Capital, Eastman Kodak, Olympus Optical, Trans World, venture capitalists and David Crosby—who also offered to donate sperm, should the company need some. To date, the company has raised $119 million in funding, including $50 million peeled by Universal Music Group, Samsung and Toshiba last year.

DataPlay is developing a recordable disc the size of a quarter than can hold 11 hours of music. It should be ready by the end of the year, and it’s expected to retail for $10. EMI, BMG and UMG have all announced plans to sell albums in the format. SonicBlue, Samsung, Toshiba, Creative Labs and Olympus will all sell portable audio players utilizing the format.

Former Capitol Nashville CEO Pat Quigley is Chief Marketing Officer and Senior VP of DataPlay. Dave Davies is the company’s Chief Technical Officer—but he’s not that Dave Davies.

Here are some quotes to make everyone feel good about the whole deal.

"DataPlay digital media is an ideal solution for today’s technology-savvy consumer," said Trans World Chairman/CEO Robert Higgins. "I’ve just gotta try to stop sticking these disks in the coin slot of the office Coke machine."

Said DataPlay Chairman/CEO Steve Volk: "There’s a tremendous amount of excitement and momentum surrounding DataPlay’s technologies and products, and we’re moving to capitalize on that enthusiasm by assembling strong investors and partners. Who knew David Crosby could bench-press his weight?"