Music site imeem Grabs More Sequoia Financing

Music site/social network imeem has taken a follow-on investment from Sequoia Capital. Sequoia mentions the deal in its monthly “GreenSheet” summation of company news, but doesn’t specifiy the amount; an imeem spokesman declined to comment. The news was first reported by TechConfidential.

Last week imeem finished acquiring Snocap for a sum thought to be less than $5 million; other investors include Morgenthaler Ventures and Warner Music Group (WMG), which got an equity stake when it settled a copyright suit last year. imeem also has deals with the other three major music labels, who allow it to let users stream their music for free, on demand.

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