Thursday, June 26, 2008

Kraft Group ponies up $4.6M for BlogTalkRadio

By Mass High Tech Staff

The Kraft Group, led by New England Patriots owner Robert Kraft, has shown support for what it calls the first online talk radio broadcasting network, New York-based BlogTalkRadio, by investing $4.6 million in Series A funding, according to BlogTalkRadio. Ex-hedge fund manager Scott Sipprelle and other individual angel investors also participated in the financing.

BlogTalkRadio operates live, interactive radio shows in which hosts need only a computer and phone to broadcast. The funding will support BlogTalkRadio’s plan for video integration, as well as sales and marketing, brand awareness and additional content development.

The online broadcasting company, launched in 2006, reports 3.2 million listeners in May, with more than 400 daily Internet shows.

The Kraft Group has also funded Matchmine Inc., a media analytics company in Needham.