Streaming radio service TuneIn has irked some rightsholders in recent times, but now the company is reportedly mulling a potential sale.
Bloomberg claimed that TuneIn has hired boutique investment bank LionTree Advisors to evaluate its options: which could involve raising new funding as an alternative to selling the company. CEO John Donham has been fielding questions about the plans.
“We are super early in conversations. One option is to keep going as we’re going, and there are other options too. You don’t engage a banker if you’re not looking at them,” he said.
Donham also revealed that TuneIn has fewer than 10 million paying subscribers and is not far off turning a profit, with around 50% of its revenues coming from subscriptions now rather than from advertising.