Will the company’s new repurchase program inspire confidence in weary investors? Spotify hasn’t done so hot lately. In its second fiscal quarterly report for 2018, the streaming music giant reported spiraling losses totaling $583 million. Then, thanks …
Category archives: Investor + VC Financing
Drake & Scooter Braun Take a Major Ownership Stake In 100 Thieves
Drake and producer Scooter Braun have purchased a stake in the eSports organization 100 Thieves. 100 Thieves is a professional eSports organization founded by Matthew Haag. The organization just completed its Series A funding round. Other eSports compa…
Tencent Music Puts IPO on Hold Amid Turbulent Market Conditions
Tencent Music patiently waits for the storm to pass. On October 3rd, the Dow Jones Industrial Average reached a record high of 26,336.62. Since then, stocks have fallen sharply. On Wednesday, the Dow Jones dropped 800 points. Amazon lost 6.2%. Netfl…
Distrokid Receives a ‘Significant Investment’ from Silversmith Capital Partners
On Tuesday, DistroKid — which distributes music to platforms such as Spotify, Apple Music, iTunes, and Deezer — announced that they were receiving an investment from a Boston growth equity company called Silversmith Capital. Distrokid was founded in 20…
Warner Music Group Is Opening a Seed Stage Investment Fund Called ‘Boost’
Warner Music Group has launched a new seed investment fund to help support entrepreneurs and innovation in the music industry. The new multi-million dollar fund is called WMG Boost. The aim is to invest in early startups in the recorded music and musi…
Daniel Ek and Martin Lorenzton Cash Out $100MM+ In Spotify Shares
Daniel Ek and Martin Lorenzton may have netted a large sum from their shares in Spotify. Last May, Sony cashed out 50% of its Spotify shares, earning a cool $760 million. Less than a week later, Warner Music Group revealed it had dumped 75% of its sha…
Prior to its Acquisition, Shazam Was Actually Bleeding Millions
Looks like Shazam’s revenue had all-but-flatlined prior to Apple’s acquisition. Losses also skyrocketed. So, would the popular app have gone bankrupt? Shazam has filed its public financial results for 2017 in the Companies House in the UK. Breaking d…
Classical Music Upstart Idagio Raises $11.7 Million for Its North American Launch
Berlin-based classical music streaming service Idagio has raised more than $11.75 million (€10 million) for its North American expansion. Existing investors provided the funds for the launch in the United States and Canada, according to details shared …
SiriusXM Acquires Pandora Radio For $3.5 Billion
SiriusXM’s Pandora acquisition could potentially open up new and unique opportunities for both artists and listeners. Looks like SiriusXM has finally purchased Pandora Radio. The $3.5 billion all-stock deal values Pandora at $10.14, 12% higher than its…
Tencent Music Slashes Its Expected IPO Raise to $2 Billion
Reuters says Tencent Music halved its IPO. Its parent company dismissed the report. So, who should we believe? Ahead of its expected launch in the US, Tencent Music’s parent company has reportedly halved the amount it seeks to raise for the IPO. The…