Pop culture-focused social media site Buzznet, based in Los Angeles, has raised a big-ish third round of funding, as much as $25 million, we have learned, and that Universal Music-owned Interscope has invested a few million in it. A source close to the company tells us that Qloud, the music application maker backed by Steve Case, has been sold to Buzznet for a “little over their last round valuation. Qloud makes the “My Music” application on Facebook (with similar products on Bebo, Friendster, and hi5), which has 1.8 million installed users. (PaidContent, Mashable)
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