SOURCE: PassAlong Networks

April 19, 2007 06:00 ET

PassAlong Networks Completes $10 Million in Financing

Digital Media Innovations Company Has Raised $35 Million to Date

FRANKLIN, TN -- (MARKET WIRE) -- April 19, 2007 -- PassAlong Networks™, developer of digital media innovations and services, today announced that it has completed a round of $10 million in financing led by private and strategic investors. The company said the funding will be used to further the development and implementation of products and services designed to bring music and other digital content to consumers through a variety of devices. To date, PassAlong Networks has raised a total of $35 million.

PassAlong's customers and strategic partners include some of the world's leading technology companies such as Microsoft, Zoran and Gracenote. Last week, retail giant Trans World Entertainment announced that PassAlong will power download services for its f.y.e.-branded online store.

"We are very gratified that our technology, value proposition and team continue to resonate strongly with investors," said PassAlong Co-Founder and CEO Dave Jaworski. "Our goal is to connect the content creators with the content consumers by providing an innovative combination of platforms, systems and tools that empower artists while enhancing the consumer experience. In order to do this seamlessly and effectively, many aspects of the digital ecosystem need to be provided. We believe that we have the broadest product portfolio in the industry."

PassAlong Networks' product portfolio includes: StoreBlocks™, a platform of digital media store-building tools and templates, and a library of songs from the four major labels and 2 million raw MP3 files from independent artists; OnTour®, an award-winning family of concert notification applications, widgets and websites; freedomMP3™, interoperability technology that protects artists' rights without hindering consumer rights; Skylocker™, a media storage and market-management platform; Speakerheart™, an independent-artist publishing and promotion system; and Connected Consumer™, a series of platforms and services aimed at enhancing the connected consumer experience.

PassAlong Networks is currently demonstrating a prototype of its Connected Consumer™ platform at the 2007 National Association of Broadcasters (NAB) conference in Las Vegas. PassAlong is located in booth C3155 in Central Hall 2 of the Las Vegas Convention Center.

PassAlong Networks was founded in 2002 by Dave Jaworski, Scott Hughes, Brad Edmonson, Jozef Nuyens, Scott Lewis and Robin Pou. Its headquarters are located in Franklin, Tenn., with a workforce of more than 75, the majority of whom are in Franklin.

About PassAlong Networks

PassAlong Networks is a developer of digital media innovations and services designed to enhance the Connected Consumer™ ecosystem. PassAlong's B2B2C technology engine provides four key services for the digital media marketplace: StoreBlocks™ offers a variety of store-building tools to enable clients to provide their end-consumers with a library of more than 2 million licensed songs and the powerful music referral system, Passing-and-Points™; freedomMP3™ provides interoperability for digital media files, including raw MP3 files, across multiple platforms and devices while promoting a balance of artist rights and media empowerment for both content creators and consumers; OnTour™ connects fans to detailed, accurate and relevant concert notifications; and Speakerheart™ enables artists to seamlessly upload, promote and sell their digital music. Founded in 2002, PassAlong Networks is privately held and based in Franklin, Tenn. For more information, visit http://www.passalongnetworks.com.

OnTour, StoreBlocks, freedomMP3, PassAlong, Connected Consumer, Passing-and-Points and Speakerheart are trademarks of PassAlong Networks. All other brands are trademarks of their respective owners.

Contact Information

  • PR Contacts:

    PassAlong Networks:
    Lindsay Cleveland
    B: 615.425.5864

    Skip Franklin
    B: 615.425.5999
    Email Contact

    Jeff Fox
    The Blueshirt Group, for PassAlong Networks
    B: 415.828-8298
    Email Contact