Last July, I signed up for Last.fm’s streaming radio service. I played around with it for a while but eventually left it alone, because I don’t like proprietary players.
At any rate, the other day I picked up on Joi Ito’s investment in the British firm.
I’ve generally stopped making new investments other than in particularly exceptional situations. However, last.fm is one of those exceptions and I wanted to let you know that I invested together with Reid Hoffman, CEO of LinkedIn and Stefan GlÃ¤nzer, CEO of 20six Weblog Services AG in the UK in October. It is the first time I’ve invested in this trilateral formation, but with the company in the UK, a lot of potential partners in the US and a big market in Japan, this team seems to make sense.
Ito is a Japanese-born, American-educated, activist, entrepreneur, and venture capitalist. He is also one of the more impressive characters on the interweb, so his financial support for the last.fm project is a key indicator that there’s much in store for this Web 2.0 company.