Russell Simmons , Accel , Social Networking

August 18, 2007

  

Everyone and their mother in the Alley are doing or plotting their Social Networking strategy, and Russell Simmons is no different. When not doing yoga, Russell Simmons is a brand. From Dan Primac (via alleyinsider):

 “Jim Breyer of Accel Partners has led his third Web 2.0 investment. Given that his first two were Facebook and Brightcove, it’s worth taking note.

“His latest is Global Grind, which has called down at least $3.5 million of a $4.5 million Series A round led by Accel. The New York-based company was recently launched by former executives of 360hiphop (later acquired by BET Interactive), including: CEO Navarrow Wright, CFO Richard Slomovitz and former 360hiphop CEO Osman Eralp.

“Also involved is hip-hop impresario Russell Simmons, who bankrolled 360hiphop and is again providing both financial and infrastructure support. Simmons will sit on the board alongside Jim Breyer, and is incubating Global Grind in the offices of his Rush Communications umbrella company.”

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