elHood.com Announces Closing of Second Financing Round Led by Spanish Entrepreneur, Jose '...

MIAMI -- Hoodiny Entertainment Group, the parent Company of elHood.com, announced today the closing of its second round of financing. The investment was led by Jose "Pepe" Barroso, a successful executive with ventures in fashion and Hispanic entertainment, who will serve additionally

Mr. Barroso's experience as the head of Pep's Records -- a joint venture with SonyBMG Spain and one of the premier independent music labels in the country -- as well as his role as a member of SonyBMG Spain's Board of Advisors provides Hoodiny with a wealth of industry knowledge that will prove invaluable to projects like elHood. elHood.com, a global online community for individuals sharing a passion for Hispanic content, offers a wide array of digital entertainment options, including social networking, photo and music sharing, artist showcases, blogs and interactive contests.

"elHood.com is a historic project that I had to be a part of. Never before have Hispanic artists and their fans had access to such a powerful entertainment tool. elHood.com is much more than a social networking site, it provides artists and fans with online features never before available under one roof," said Barroso. "The project's soundness is based on the vision and experience of its founders, which is transparent through elHood.com's superior technology and design. The opportunities to maximize the site's potential through our combined resources and our common visions are limitless."

Demian Bellumio, president of Hoodiny commented: "Pepe Barroso recognizes the importance of providing Hispanic artists with their very own space in the digital entertainment market -- as well as the importance of this very market, itself. We are excited to have him aboard and consider him a tremendous addition to our team. His unparalleled experience with startup businesses, particularly in the entertainment industry, and his sustained efforts to promote Hispanic artists will complement elHood.com and Hoodiny's mission perfectly."

About Jose "Pepe" Barroso

Since the foundation of Barroso's Pep's Records in 1995, the company has created opportunities and successes for local artists and music. In 2003, with Pepe de Lucia, the company received a Latin Grammy award for the best flamenco album. Both Malu and Los Canos -- Spanish artists -- have been awarded the "Premio Amigo: Artista Revelacion" and have sold 400,000 and 300,000 copies of their albums, respectively, through Pep's Records. Currently, the company promotes artists like Kiko & Shara and Juan Pena and is becoming one of the most important independent record companies in Spain's musical panorama.