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.
Global Grind is currently in alpha testing, with a product that at first glance seems to be yet another personalized start page. The difference, it argues, is that it is far more targeted to niche audiences – rather than just providing the generic Politics, Sports, Business, Music, etc. of a Yahoo start page. One would also assume – given the management team’s pedigree — that the Global Grind will initially target the hip-hop niche, but confirmation has been spotty (see here or here).
Perhaps the best explanation comes from the company itself, via its MySpace page (it’s Facebook page hasn’t yet accepted my friend request):
No time to surf the web? Let Global Grind bring the web to you all on one page. Put your favorite blogs, social network, news sites, video feeds, photos and any RSS feed on one customizable page. Global Grind is Your Web Filtered Fresh. Your comments, ratings and usage patterns guide the editorial focus each time you visit the site. The more you use the site the better it becomes at recommending content to you.
Global Grind’s official name is GGDigital Inc.