Hoodiny Entertainment Group Closes Financing Round

Hoodiny Entertainment Group Closes Financing Round

Technology company raises over $9 million in private placement


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Miami, FL–(HISPANIC PR WIRE)–August 2, 2007–Hoodiny Entertainment Group, LLC (“Hoodiny”), a full-service digital entertainment and content production company, and parent of elHood.com, announced today the closing of its latest round of financing. The company raised over $9 million from investors in the United States and Spain to continue with its geographic expansion and the development of unique social networking solutions for leading media companies. Stanford Group Company acted as the exclusive financial advisor and placement agent for Hoodiny, and will continue to partner with the company in its ongoing efforts and expansion.

“Since we founded the company, our focus has been on leveraging technology and creativity to help traditional media companies build content-centric social communities, capitalizing on their highly valuable digital catalogs,” stated Demian M. Bellumio, president and founder of Hoodiny Entertainment Group, LLC. “We have been gratified by the response of the investment community and the confidence that our partners, including the major music labels, have placed in our business model.”

With the close of this latest round, Hoodiny has raised a total of $11 million of equity financing during the past twelve months. Hoodiny continues to invest strategically in its technology and in the expansion of its staff, both in the U.S. and Spain, in order to support its growing user base and strategic partners, including the music labels and thousands of independent artists.

During the past year, Hoodiny has concentrated on the development of its proprietary “Hoodiny Content + Community”, or HC² Platform, which uniquely combines a powerful audio and video management system with innovative social networking features to create an easy-to-navigate, desktop-like environment that users can enjoy online. In June, the company announced a strategic alliance with Billboard – the world’s most comprehensive source of music, digital data and events – allowing Hoodiny-powered sites to have unique access to Billboard’s content, while translating it to Spanish and Portuguese. Additionally, under the agreement, Hoodiny will leverage Billboard’s U.S. digital sales organization to generate advertising revenues. Hoodiny expects to announce additional strategic partnerships during the coming months.

About Hoodiny Entertainment Group LLC

Hoodiny Entertainment Group (“Hoodiny”) is a full-service digital entertainment and content production company. Through its four main subsidiaries, elHood.com, Hoodiny Digital, Hoodiny Interactive, and Hoodiny Productions, Hoodiny bridges a digital gap by providing a wide array of leading edge digital entertainment solutions to traditional media companies and telecom providers. elHood.com connects artists and fans worldwide through its unique digital user-experience featuring exclusive content from independent and major label artists. Hoodiny Interactive (“HI”) is the digital solutions arm of Hoodiny, specializing in the creation of custom online destinations for premium content providers based on Hoodiny’s proprietary Content and Community Platform (“HC2”). Hoodiny has offices in Miami Beach, Los Angeles, and Madrid. To learn more or join the community, please visit http://www.Hoodiny.com and http://www.elHood.com, respectively.

About Stanford Financial Group

Stanford Financial Group is a privately held, wholly owned global group of financial services companies led by Chairman and CEO Sir Allen Stanford and founded by his grandfather, Lodis B. Stanford in 1932. Stanford’s core businesses are private wealth management and investment banking for institutions and emerging growth companies. Stanford provides private and institutional investors with global expertise in asset allocation strategies, investment advisory services, equity research, international private banking and trust administration, commercial banking, investment banking, merchant banking, institutional sales and trading, real estate investment and insurance. Stanford serves clients from 136 countries on six continents. Securities products and services in the United States are offered through Stanford Group Company, member NASD/SIPC. More information on the company can be found at http://www.stanfordfinancialgroup.com

Hoodiny Entertainment Group Closes Financing Round