“Celebrity Services” Startup Gets $2.5M Credit Line

Wade Roush4/30/08

Paid, Inc., a Boston startup that provides services such as online community building, Web design, merchandising, and VIP fan ticketing to musical and sports celebrities including Patti Labele, Keith Lockhart, Doug Flutie, and the group Aerosmith, said yesterday that it has closed a $2.5 million revolving line of credit with Lewis Asset Management of New York. The company said the money will enable it to win contracts with musical artists who require advance payments for VIP ticket packages.

Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can e-mail him at wroush@xconomy.com or follow him on Twitter at twitter.com/wroush.