MOG Raised $10 million in Venture Capital Financing to Fuel Expansion

At the end of February, CA-based music service company MOG announced in a press release that it raised $9.5 million to close a new round of venture capital investment. The venture funding round was led by Menio Ventures. Initially, the companies provided a social media platform for music lovers to blog about music and music artists, and connect with each other. Later MOG took the next step as it added All Access that provides on demand subscription to a library of more than 7 million songs. According to the press release, the expansion capital was raised to support the development of mobile applications, and most importantly to expand the customer base globally. To that end, considering the high conversion rate, the company decided to increase the trial period of its All Access service from one hour to 3 days.