DanceJam Finds A Buyer

DanceJam, a dance video startup founded by MC Hammer, Geoffrey Arone and Anthony Young in April 2007, will soon be acquired by Purevideo Networks, we’ve heard from multiple sources. Note: I am a small stockholder in DanceJam, although the company won’t comment to me about this at all.

We don’t know the purchase price or other terms of the deal. Both companies are privately funded.

Earlier this year Purevideo Networks also acquired Sportnet, a site that controls a number of popular topical video sites.

DanceJam launched in November 2007 and has raised $4.5 million in venture capital.