Ethnic online community creator Community Connect Inc., New York, has raised $15 million in third-round financing. Community Connect’s ethnic sites are BlackPlanet.com, which targets African Americans and AsianAvenue.com, which targets Asian Americans.
The money is to be used to grow those two sites and launch a site targeting U.S. Hispanics.
Funding came from venture capital and strategic media companies. They were led by Sandler Capital Management, a firm specializing in telecommunications, Internet, media and entertainment. Other investors include Comcast Interactive Capital, a venture capital fund associated with cable services provider Comcast Corp., JUMP Investors and ConnectCapital.
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