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Search - Wednesday, December 5, 2007

MyStrands Raises Further $24M For Recommendation Engine

Over the holidays, a non-technical family patron indicated that he uses the music recommendation service Pandora and thought that we should give it a try. We thought these services were just for the hip young kids but this business really seems to have gone mainstream.

Spanish/American personalized music recommendations startup MyStrands has raised $24M in its Series B2 round of funding. Spanish bank BBVA led the funding along with existing investor Debaeque. As we reported, the last round of funding closed in June at $25M, bringing the total capital raised to date to $55M.

MyStrands currently provides music recommendation (which puts it in competition with Pandora, LastFM, imeem, etc.) but the company indicates that it will be providing personalized recommendations for other items. MyStrands says that its users bought $12M in sales (music downloads and other items) in 2007.

MyStrands Demo

Read - Blog announcement