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Monday, November 6, 2000

TONOS NABS $10 MIL IN FUNDING

by

Marc Pollack

Company Promises Not To Blow Cash On Buying Playstation 2 Off eBay
Online music company Tonos has closed a $10 million Series B venture capital funding round, led by Softbank Venture Capital.

Also included in the Series B round are returning investors Sequoia Capital and Bob Daly, Chairman of the Los Angeles Dodgers, and new investors Bob Lessin, Chairman/CEO of Wit SoundView, and Bo Peabody, founder of Tripod.

"The music discovery and creation space has huge revenue potential and Tonos is well positioned to become the category leader," said Carl Rosendahl, Managing Director, Softbank. "We can only hope our $10 million turns into $100 million very quickly."

TAGS: Marc Pollack
 
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