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@ Media & Money: Keynote: Russell Simmons, Founder, Rush Communications

By Joseph Weisenthal - Thu 08 Nov 2007 10:40 AM PST

russell simmonsThe final event at the Media & Money Conference was a keynote interview with hip-hop mogul Russell Simmons, whose business empire is approaching conglomerate status. Much of the conversation was general, about his business philosophy and social outlook. Among his many ventures: the startup Global Grind, a kind of hip-hop themed NetVibes, which he funded with help from Accel’s Jim Breyer (now strongly associated with his Facebook investment).

As for why he launched the site now, Simmons said the timing coincided with the end of a five-year non-compete clause associated with the sale of his former site 360HipHop.com to BET. This time, he has the funding and the experience to succeed where 360hiphop.com failed. He’s clearly more than a figurehead for the site, as he talked up what the site offers: “You have a bunch of RSS feeds… The home page is kind of like NetVibes,” and there’s a relevance engine that helps people find content related to what they’re consuming. His example: if you see an article about the rapper Saigon, it won’t bring you related news on what’s now known as Ho Chi Minh City. (Just to note, even Google (NSDQ: GOOG) puts the rapper above the city.) The company does plan to be ad supported, though it’s also looking serve the hip-hop industry in some way.

He added that he had considered launching a cable channel or a magazine, but didn’t like the business prospects. He was similarly dour on the the music business, despite the fact that he’s “listening to more music than ever before.”

Posted in: Conferences, Media & Money

Tags: russell simmons


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2 Responses:
  • From KEITH COLES Thu 10 Apr 2008 11:28 AM

    MY COMPLAINT IS YOUR RUSH CARD TOOK $160 FROM MY WIFE ACCOUNT AND NOONE KNOWS WHAT IS GOING ON I SEE ON YOUR SIGHT MY WIFE IS NOT THE ONLY ONE YOU GOT OVERSEAS PEOPLE WORKING FOR YOU AND THEY JUST TOOK THE MONEY AND THEY WONT GIVE IT BACK THATS BAD BUSINESS RUSSELL MY E-MAIL IS

  • From THELMA SHEARIN Thu 17 Apr 2008 07:13 AM

    HERE IT IS APRIL 17, 2008 AND I STILL DO NOT HAVE MY MONEY.

    Sent: Friday, February 29, 2008 11:59 AM
    To: ; ; Shearin, Thelma (DMHMRSAS)
    Subject: DO NOT DELETE - SERIOUS PROBLEM

    To Whom It Concern:

    I have a Rushcard and I tried to withdraw my money on payday on February 1, 2008 for 780.00 from Bank of America’s Atm Machine. The machine did not dispense my money.  I tried to due the transaction again, now it was insufficient funds.  I didn’t receive the money at all.  I went inside to talk to the people at Bank of America and they said they couldn’t help me, that I would have to talk to my Bank (rushcard).  I called Rushcard and talked to some foreign person (which is always the case, and you can’t never understand what they are saying) in which they told me that I would have to fill out some Error allegation papers which they faxed to me and I faxed back 5 times. 

    I have been calling Rushcard since my money was taken, and all I can get is a foreign person telling me the papers have been forwarded to their corporate offices which no one seems to have the number to.  I have sent all necessary paper work, and they tell me its going to take 90 days.  I feel like it didn’t take 90 days or seconds for them to take my money and put it in the hold status so why can’t they just give me my money back.  A guy named Victor has called me twice asking me for a receipt from that day. I faxed the receipt along with the other papers, but the only receipt that Bank of America’s ATM gave me only showed by balance, nothing more and nothing less.  That is all I have.

    780.00 might be chump change to Russell Simmons and his associates but it’s a hell of a lot to a working person such as myself.  I want my money back and if I don’t receive my money, legal and media actions will be taken as well as the internet.  People need to know about this RUSHCARD that is advertised on t.v. with the high fees, and no dispense of money.  Because of this, I have surely cancelled my direct deposit.  This happen 3 times to me, now your out.

    The complaints below are some I found on the internet and it’s a lot more people complaining.  All I want is my money back that I worked damn hard for.  I didn’t work to give it to people that already got money

    Thelma Shearin

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