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Will Smith Invests In Music Video Startup

This story was written by Rafat Ali.

A new music video destination is launching tonight, and yes, another one. PluggedIn, a new site based in Santa Monica, is launching with about $2 million in venture funding from Will Smith's entertainment company, Overbrook Entertainment and others. The company says it has deals with Universal Music Group, EMI and SonyBMG, and will launch with about 10,000 HD and broadcast quality videos. The video is being delivered by Move Networks, which is the high-def video tech company that just announced its own $46 million round. The company has hopes of being the destination site of music videos (licensed and third party from around the Web), with artist profiles and community built around it.

The company's team includes Brett O'Brien, founder of Xdrive, which was sold to AOL (NYSE: TWX) in 2005; Kevin Welk, CEO of Vanguard and Sugar Hill Records; Jeff Somers, former executive with Amazon (NSDQ: AMZN) and Zillow (who is the new company's CEO); and others.

By Rafat Ali

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