updated 01:00 pm EDT, Wed July 26, 2006
iTunes social network
Music website GarageBand.com today said it has raised $2.5 million in equity financing from Khosla Ventures, as well as from individual investors. The company is testing a new music-oriented social network designed for iTunes users, from which it hopes to generate revenue, according to Bizjournals.com. Among the individual investors named was David Weiden, a new Khosla partner who joined in 2006, as well as MTV co-founder Bob Pittman, both of whom took seats on GarageBand.com's advisory board.