Qloud Gets Acquired by Buzznet

As confirmed with close sources, Qloud, the social music web service, has been acquired by Buzznet, the social media community which has a heavy music content. This is the second internet company in the D.C. area to have news of acquisition within the past week. The company which has a small team of employees went live back in 2006 but experienced explosive growth with the launch of the Facebook platform.

There is no word on the actual price of the acquisition price but Adam Ostrow claims that it was a “little over their last round valuation.” The details will be released shortly and you can be sure that we will have the details posted as soon as we hear anything new. While I’m not sure, their company could have been leveraged to close Buzznet’s most recent round of funding which was reported yesterday at $25 million.

A huge congratulations to the Qloud team!

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