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hi5 Networks Signs On For $15 Million Debt

Wednesday, January 30, 2008 5:47:00 AM PDT | VentureDeal Staff

SAN FRANCISCO, CA -- Internet company hi5 Networks said that it has concluded a $15 million venture debt financing round.

hi5 provides a Web-based platform for established and emerging music artists to upload and share their work and communicate with fans.  It also offers social networking features to community members.

Hercules Technology Growth Capital provided the financing.  The company said it would use the proceeds to purchase additional equipment to enable the company to continue scaling its service.

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