Social media marketing firm theAudience has raised $20m of funding from investors including Founders Fund, Guggenheim Partners, Participant Media, Capricorn Investment Group and Intertainment Media. The company includes Sean Parker and Hollywood agent Ari Emanuel on its board, as we reported when breaking news of the company’s existence earlier in the year (Bulletin, 20-Jul-12). theAudience focuses on running social media profiles and campaigns directly for artists, actors and other celebrities, which sometimes means cutting labels and studios out of the loop. It claims to be working with 300 celebrities with a collective reach of 800m fans online. The New York Times has claimed that fees start at $5k a month, which would suggest at least $1.5m of monthly revenues for the business.