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Goom Radio Claims They Are Going to Reinvent Radio!

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PRESS RELEASE - Goom Radio receives a $16 million investment http://www.dealipedia.com/deal_view_investment.php?r=14219

Goom Radio (www.goomradio.com), a newly founded New York-based online radio company, has secured approximately $16 million (12.2 million euros) in funding from Wellington Partners Venture Capital, Elaia Partners and Partech International in its Series A round. Goom Radio’s mission of “reinventing radio for the Internet generation” is fueled by a team of some of the brightest minds from both radio and technology. The company plans to launch its U.S. service later this year.

Do you think their advertising based revenue model will offset webcast royalties and bandwidth costs?
 
"Goom Radio Claims They Are Going to Reinvent Radio?"

This is just the kind of braggadocio that gets you 16 mil in VC funds. From what I've seen and read of Goom so far, I'd say Pandora and Last.FM are far greater game changers. Goom is an also ran.

C5
 
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