MyStrands Music Service Attracts $24 Million Of Funding

We’ve covered the MyStrands social music service/network several times here at Profy. First in December of 2006. Then in late January, when we spoke of several enhancements made. Then in mid-March, when MyStrands tacked on a nifty mobile component to its repertoire. And, lastly, in early September, when we brought you word of the launch of MyStrands TV.

Now it’s safe to say the company (we presume it’s past the “startup” stage) is doing quite well for itself. It boasts a steady and sizable usership. It’s introduced quite a few compelling features over the last twelve months or so. And it’s still pushing pretty strong.

So strong, in fact, that a group of investors, led by BBVA (some Spanish bank neither I nor likely most of you have ever heard of), have offered up $24 million in a round of funding dubbed Series B2.

Now, if you’ve been following our feed for, say, the last year or so, you’ll know we tend not to cover the funding rounds announced by the media. In most cases we find them dull. (Perhaps the disinterest has to do with the chosen nomenclature. “Series B2”? Come on, spice it up a bit, guys. That’s $24 million [bleeping] bucks now stuffed inside that beer fridge at the office. Get creative with the PR.)

And, quite frankly, it’s more something that Michael Arrington and the writer staff at TechCrunch excel at. They’re the ones that have the financing fetish. (Mind you, if anyone wants to send $24 million our way, we could probably change things up and spend portions of our days waxing poetic about the green gravy train traveling the Valley.)

But we’ve been privy to the goings on at MyStrands for a long while, so we thought we’d make a slight exception and post a word or two – or, you know, four-hundred – about the company’s success in all but doubling it’s total financing to date. (In June it nabbed $25m, and before that about $5-6m. Where from, who the hell knows.)

So, cheers to all you at MyStrands on the $24 million infusion. Quite an achievement. Not so much a record. The guys with the green liked you $1m more back in June. But nonetheless, you’re doing pretty well for yourselves.

(Would it be out of line to request a small slice of that injection? We suspect they’ve signed on at least a couple dozen users by way of Profy. Very valuable users at that. So, you know, to be fair….)