Amit Kapur, former MySpace COO, has a new startup, which raised $10 million in its first round of funding. Redpoint Ventures and August Capital jointly led the round. The investment comes before Kapur and Steve Pearman (MySpace’s former SVP of product strategy) and Jim Benedetto (former SVP of engineering) have settled on a final name for the startup, according to reports.

(www.myspace.com)

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