The Lot18 Guys Have Another Startup, Popdust, That Just Raised $4.5 Million From NEA, RRE And Softbank

hugh panero popdustHugh Panero is the CEO of Popdust. He formerly founded XM Satellite Radio

Photo: Popdust

Popdust, a music site that looks a lot like MTV and targets teenagers, has raised $4.5 million.The Series A round of financing was led by New Enterprise Associates with participation from RRE Ventures, SoftBank Capital, Project A Ventures and angel investors.

The capital will be used to expand the site’s editorial coverage.

Popdust has about 600,000 monthly unique visitors and it recently introduced an e-commerce arm, Popdust Style, where music fans can shop for apparel and accessories. The launch collection was curated by new pop sensation, Karmin.

Hugh Panero is its CEO; he was the founder of XM Satellite Radio.

Lot18 founders Philip James and Kevin Fortuna founded Popdust in 2011 while they also worked on their flash sale wine site, which has raised $44.5 million to date.

The wine site and music/teen site don’t sound like they have much in common, but James says both are reinventing e-commerce.

“Amazon and eBay reign supreme if you know what you want,” James tells Inc. “But if you’re looking for something fun or cool, or need help finding something interesting, niche categories are flourishing. E-commerce hasn’t done that very well in the past but increasingly it is. In Lot18’s case, it’s food and wine, and in Popdust’s case, it’s fashion and style from tastemakers, from the artists.”


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