Russell Simmons’ GlobalGrind Raises $2.6 Million Funding

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GG Digital Inc, parent company of GlobalGrind, the urban news and lifestyle site founded by Russell Simmons, has raised $2.6 million worth of a proposed $3.4 million round of funding, per an SEC filing. GlobalGrind raised $3.5 million in a first round from Accel Partners in 2007; Simmons invested in that round. The company did not respond to a request for confirmation.

GlobalGrind initially launched as a personal start page for hip-hop fans; the site has evolved into more of an editorial destination, with artist and entertainer interviews, videos, gossip and even political commentary. Compete pegs its monthly uniques at about 400,000, a steady climb from the site’s launch in late 2007.

Source: PaidContent

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