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MYPLAY IS A VC-GRABBIN' PLAYA
Vulcan Gets Emotional About Virtual Music Storage Provider
Despite the decline in value of online entertainment stocks, Web companies have shown a remarkable ability to raise funding.

Digital-music storage-locker provider Myplay, Inc.has completed a more than $18 million round of financing, led by Paul Allen's investment organization Vulcan Ventures, Inc.

In addition to Vulcan--which has also funded DreamWorks SKG, Rioport, Oxygen Media, ZDTV and Metricom--Institutional Venture Partners and additional private investors also contributed to this financing round.

The company said the funding would be used to further develop new services for Myplay customers, including support for wireless devices and broadband applications. The company will also continue to build its infrastructure and service-based business-to-business functions as it grows as a marketing channel for the entertainment business.

Myplay recently announced strategic partnerships with AOL's Winampand Spinner. Other partners include Emusic.com and Rollingstone.com. The company also has marketing agreements with DreamWorks Records, Artemis Records, Beggars Banquet, Beyond Music.com and Jive Records.

"Myplay's innovative digital music services complement perfectly the many other music, retail and online companies in our investment portfloio," said Vulcan Ventures President William Savoy. "It also means I can keep all my Kajagoogoo files away from the grubby hands of my underlings."

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