KaraokeParty Secures Funding to Intensify Expansion Plans

Gothenburg, Sweden, October 10, 2008 --(PR.com)-- Online entertainment company Karaokeparty Online Gaming AB has secured a SEK 3 Million investment from a group of investors based in Sweden. KaraokeParty.com, its online karaoke service, launched only a month ago and has already become one of the most visited karaoke sites on the Internet with users from all over the world.

”We are extremely pleased with the development so far, with user numbers beating even our most optimistic forecasts. With the new funding, KaraokeParty will be able to intensify its expansion plans and increase its catalogue of songs which should make the service even more popular”, said founder and CEO Mattias Öberg.

“We quickly realised the significant potential in the KaraokeParty service and in the management team. We look forward to working together with KaraokeParty to make its karaoke service the most successful in the world“, said Kent Gustafson, one of the new investors.

Media information

Please visit http://www.karaokeparty.com/en/press or contact:
Mats Fors, Business development, mats.fors@karaokeparty.com, +46(0)768-201214

About Karaokeparty Online Gaming AB

Karaokeparty Online Gaming AB is a Swedish based company that develops and manages music entertainment sites. Visit http://www.karaokeparty.com/en/about for more information.

About the group of investors

Kent Gustafson, Håkan Janson and Rolf Johansson were co-owners of Gekås in Sweden, one of the biggest low price shopping centres in Europe, and have worked as angel investors in many different projects.

###