TheWrap Raises $2M, a Santa Monica, CA-based news organization covering the business of entertainment and media, has raised $2m in a series B financing round . 

The investment comes from Maveron, a venture capital firm co-founded by Starbucks CEO, Howard Schultz, and a majority of the company’s A round investors.
The capital infusion will be used to accelerate the continued expansion of and to provide flexibility to take advantage of new market opportunities.
This latest investment follows’s Series A funding in January 2009 from Maveron and a group of private investors.
Commenting on the funding, Ben Choi, Maveron Principal and board member, was quoted as saying: “This new investment and our continued support is a direct result of that success and Sharon’s leadership.
Sharon Waxman, Editor-in-Chief and founder, added: “This capital will allow us to take advantage of opportunities in a very rapidly-changing media space, and will help us expand our revenue streams beyond display advertising, events and licensing”.  

Join the discussion