News Byte

Rdio Rounds Up More Cash for Online Music

No one has figured out how to make online music subscriptions really work, but people are still trying: Rdio has raised a new $17.5 million round led by Mangrove Capital. The company had previously raised at least $6 million from Skype and its founders; the new dollars are supposed to help it compete with Apple’s iTunes and a host of other subscription services, including Spotify, Rhapsody and MOG.

OpenX Closes $10 Million Round

It didn’t really need the money, but OpenX today announced a $10 million third round of funding. DAG Ventures led the round, and existing investors Mangrove Capital, Accel Partners, Index Ventures, First Round Capital and former AOL CEO Jon Miller, the company’s chairman, all chipped in a second time.

Former Yahoo Exec to OpenX; OpenX to L.A.

Former Yahoo Senior Vice President Tim Cadogan will take the CEO job at OpenX, the popular open-source ad server start-up, backed by Index Ventures, Accel Partners and others. As part of the change, the company will move from its London HQ to Los Angeles. OpenX has about 30 employees, including 10 developers in Poland, but [...]