Smule, maker of Sing! Karaoke and different social music apps, announced the day prior to this that it has raised $ 54 million in a spherical led by means of chinese language firm Tencent.
Adams boulevard partners, Bessemer Ventures, Floodgate, Franklin Templeton and Shasta Ventures additionally participated within the funding. Reuters mentioned that the spherical valued the corporate at $ 604 million, setting up Smule to amplify in Asia and doubtlessly to move public.
founded in 2008, Smule’s apps permit users to share various kinds of musical performances with others, and the company says it now has fifty two million month-to-month lively customers. CEO Jeff Smith has said his imaginative and prescient is to “build a social network round music” whereas additionally serving to to promote track.
Tencent, in the meantime, is the maker of the favored WeChat app, and it’s also been investing in track and user-generated content.
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cell – TechCrunch