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03-11-2014, 08:28 PM
Dr. Dre's Beats Music Said to Raise Up to $100 Million
http://rack.1.mshcdn.com/media/ZgkyMDE0LzAzLzExL2Y2L0JlYXRzbXVzaWNMLjc2NGRmLnBuZw pwCXRodW1iCTU3NXgzMjMjCmUJanBn/f78e1e4a/c72/Beats-music-LLC.jpghttp://rack.3.mshcdn.com/assets/feed-tw-df3e816c4e85a109d6e247013aed8d66.jpg (http://twitter.com/share?via=Mashable&text=Dr.+Dre%27s+Beats+Music+Said+to+Raise+Up+to+% 24100+Million&src=http%3A%2F%2Fmashable.com%2F2014%2F03%2F11%2Fb eats-music-raises-100-million%2F%3Futm_campaign%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_cid%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_medium%3Dfeed%26utm_source%3Drss)htt p://rack.1.mshcdn.com/assets/feed-fb-fdab25e3700868c9621fb03b7fd07c38.jpg (http://www.facebook.com/sharer.php?u=http%3A%2F%2Fmashable.com%2F2014%2F03 %2F11%2Fbeats-music-raises-100-million%2F%3Futm_campaign%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_cid%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_medium%3Dfeed%26utm_source%3Drss&src=sp)
Beats Music LLC, the subscription streaming service from rapper Dr. Dre and record producer Jimmy Iovine (http://topics.bloomberg.com/jimmy-iovine/), raised a second round of funding from existing investors, said three people with k**wledge of the deal.
Beats Music, based in Santa Monica, California, raised $60 million to $100 million in equity financing, said the people, who requested a**nymity because the round wasn't public. Len Blavatink, Marc Rowan, James Packer (http://topics.bloomberg.com/james-packer/) and entities affiliated with Lee M. Bass first provided $60 million a year ago.
The company is raising money as Beats Music seeks to challenge market leader Spotify Ltd. for exclusive music rights and to build new features. Beats Music began service in January with plans marketed through AT&T Inc. and TV commercials that included a Super Bowl spot with Ellen DeGeneres (http://topics.bloomberg.com/ellen-degeneres/). Read more... (http://mashable.com/2014/03/11/beats-music-raises-100-million/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss)
More about Funding (http://mashable.com/category/funding/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), Streaming Music (http://mashable.com/category/streaming-music/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), Investors (http://mashable.com/category/investors/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), Subscription (http://mashable.com/category/subscription/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), and At T Entertainment (http://mashable.com/category/at-t-entertainment/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss)http://feeds.feedburner.com/~r/Mashable/~4/kL5eU33ORFY
http://rack.1.mshcdn.com/media/ZgkyMDE0LzAzLzExL2Y2L0JlYXRzbXVzaWNMLjc2NGRmLnBuZw pwCXRodW1iCTU3NXgzMjMjCmUJanBn/f78e1e4a/c72/Beats-music-LLC.jpghttp://rack.3.mshcdn.com/assets/feed-tw-df3e816c4e85a109d6e247013aed8d66.jpg (http://twitter.com/share?via=Mashable&text=Dr.+Dre%27s+Beats+Music+Said+to+Raise+Up+to+% 24100+Million&src=http%3A%2F%2Fmashable.com%2F2014%2F03%2F11%2Fb eats-music-raises-100-million%2F%3Futm_campaign%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_cid%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_medium%3Dfeed%26utm_source%3Drss)htt p://rack.1.mshcdn.com/assets/feed-fb-fdab25e3700868c9621fb03b7fd07c38.jpg (http://www.facebook.com/sharer.php?u=http%3A%2F%2Fmashable.com%2F2014%2F03 %2F11%2Fbeats-music-raises-100-million%2F%3Futm_campaign%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_cid%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_medium%3Dfeed%26utm_source%3Drss&src=sp)
Beats Music LLC, the subscription streaming service from rapper Dr. Dre and record producer Jimmy Iovine (http://topics.bloomberg.com/jimmy-iovine/), raised a second round of funding from existing investors, said three people with k**wledge of the deal.
Beats Music, based in Santa Monica, California, raised $60 million to $100 million in equity financing, said the people, who requested a**nymity because the round wasn't public. Len Blavatink, Marc Rowan, James Packer (http://topics.bloomberg.com/james-packer/) and entities affiliated with Lee M. Bass first provided $60 million a year ago.
The company is raising money as Beats Music seeks to challenge market leader Spotify Ltd. for exclusive music rights and to build new features. Beats Music began service in January with plans marketed through AT&T Inc. and TV commercials that included a Super Bowl spot with Ellen DeGeneres (http://topics.bloomberg.com/ellen-degeneres/). Read more... (http://mashable.com/2014/03/11/beats-music-raises-100-million/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss)
More about Funding (http://mashable.com/category/funding/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), Streaming Music (http://mashable.com/category/streaming-music/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), Investors (http://mashable.com/category/investors/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), Subscription (http://mashable.com/category/subscription/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), and At T Entertainment (http://mashable.com/category/at-t-entertainment/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss)http://feeds.feedburner.com/~r/Mashable/~4/kL5eU33ORFY