Russian venture fund invested $ 8.5 million in Shazam music service
Shazam received thirty million dollars during the eighth round of investments in January. At the end of the round, investors estimated the music service at one billion , and the total investment amounted to one hundred seventy million dollars.
Shazam was founded in 1999. The service finds out the song and gives information about it. The number of active users of the service is one hundred and ten million people, and among its competitors is called Spotify, Pandora, Amazon.com. The service earns commissions from music sales.
During the eighth round of investments on January 21, 2015, thirty million dollars was invested in the company. Of these, eight and a half went to Shazam from Buran Venture Capital, a venture fund whose investors are Mikhail Vinchel and Grigory Finger - co-founders of Mail.ru Group - and Boris Mints 01. Andrew Fisher, chairman of the board of directors at Shazam, said that working with Buran VC will help the company navigate several key markets. Fund partner Alexander Konoplyasty noted that Shazam “can be useful” for investors to connect with Mail.ru and the Vkontakte social network.
')
The venture fund expects profitability of more than fifty percent per annum.
The company is not yet among the five most expensive startups, but it is among the seventy-three startups that investors value in a billion dollars or more. After raising a hundred and seventy million dollars in eight rounds, Shazam was valued at one billion .
Shazam was founded in 1999. The service finds out the song and gives information about it. The number of active users of the service is one hundred and ten million people, and among its competitors is called Spotify, Pandora, Amazon.com. The service earns commissions from music sales.
During the eighth round of investments on January 21, 2015, thirty million dollars was invested in the company. Of these, eight and a half went to Shazam from Buran Venture Capital, a venture fund whose investors are Mikhail Vinchel and Grigory Finger - co-founders of Mail.ru Group - and Boris Mints 01. Andrew Fisher, chairman of the board of directors at Shazam, said that working with Buran VC will help the company navigate several key markets. Fund partner Alexander Konoplyasty noted that Shazam “can be useful” for investors to connect with Mail.ru and the Vkontakte social network.
')
The venture fund expects profitability of more than fifty percent per annum.
The company is not yet among the five most expensive startups, but it is among the seventy-three startups that investors value in a billion dollars or more. After raising a hundred and seventy million dollars in eight rounds, Shazam was valued at one billion .
Source: https://habr.com/ru/post/286156/
All Articles