Intermix collects $4M for MySpace
by Paul Bonanos Posted 03:38 EST, 8, Dec 2004
Internet media holding company Intermix Media Inc. of Los Angeles has turned to venture investors for funding that establishes social networking site operator MySpace Inc. as an independent subsidiary of publicly listed Intermix.
Redpoint Ventures of Menlo Park, Calif., supplied $4 million in funding to Intermix. In return, the firm received 1 million shares of Intermix stock, as well as warrants to purchase an additional 150,000 shares at $4 per share. Redpoint will be MySpace's minority owner, while Intermix will retain a majority stake. "
Check out the insider selling from the BoD memer on this: http://biz.yahoo.com/t/32/4232.html
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