Jakob Lodwick now admits he's involved with Justin Ouellette's Muxtape. What the Connected Ventures cofounder, ousted from his job at the IAC-backed venture by Barry Diller, doesn't disclose: a financial stake in Ouellette's online mix-tapes project. We hear it's more than plausible Lodwick is an early investor in the startup. Lodwick has already shown a willingness to invest in projects he admires, such as David Karp's Tumblr. Before publicly disclosing his employ with Muxtape, we asked Lodwick to explain his connection to Muxtape. In an email, Lodwick changed the subject to fantasies of his personal life.

I have a long history with mix tapes...ask my wife. It was the beginning of our relationship...I loved to make mix tapes that were fast-paced on Side 1 and slower-paced on Side 2 (especially for the ladies). I was what one could call a Mix Master. But the iPod has come into existence and tapes faded into the twilight. A gaping a void was left until now...

Muxtape is a website that resurrects the mix tape online. Upload MP3's into a mix tape and share it with friends. So here's mine...enjoy and maybe make your own too.

Sounds like a good pitch. So why's Lodwick being so sneaky about his involvement? We don't know, but here's one theory advanced by a tipster: Like Lodwick, Justin Ouellette is a former Connected Ventures employee. Lodwick's severance package may forbid him from working with other ex-employees.

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