HearHere Radio Inc. raises $1.7 million in Convertible
AP, A. H. Belo and venture capital back Rivet News Radio
CHICAGO – HearHere Radio Inc., the company behind Rivet News Radio, announced today that it has raised to-date $1.7 million in Convertible Promissory Notes. The investors include The Associated Press, A. H. Belo Corporation, Whittier Ventures, Ringleader Ventures, individual backers including Chicago venture capitalist Steve Miller, employees, family and friends.
The company’s core product Rivet Radio provides a personalized listening experience to smartphone users. With a foundation in traditional radio news storytelling, Rivet’s in-house, veteran news team develops news content and creates original programming. In addition, Rivet’s audio offerings include stories from trusted media outlets such as the Associated Press, Chicago Public Media, and Crain’s Chicago Business.
“Our team is proud to be funded by this trusted group of investors.” CEO John MacLeod said. “Not only are we using these funds to bring smart audio news to more people, we’re working diligently to optimize proprietary technology that better understands listeners’ interests and delivers them exactly the news they care about.”
MacLeod and his team have broad and deep business experiences spanning technology, media and entertainment. Previously he acted as an executive vice president at NAVTEQ, in addition to years at Sony Pictures Entertainment and The Walt Disney Company. MacLeod holds an MBA from Stanford University and a BA from Harvard University.