Music Ally

TechCrunch is reporting that Facebook has turned down a potential $200 million VC funding round which would have valued the company at $8 billion. The sticking point appears to have been the demand by the potential investor of a seat on the company’s board. What’s more, the article suggests that the social network is telling investors that it expects to reach $550 million in revenue this year, up from $280 million last year.
Source: TechCrunch – http://tinyurl.com/r5xbvu

Chinese digital music firm A8 has released its interim figures and two remarkable facts stand out. Firstly the company is reporting a tripling in revenues to RMB 329m (GBP £26m) and profits of RMB 136m (£11m). To put that in context A8’s total revenue is roughly equivalent to the entire digital music market in France (EUR 36m) The income comes primarily from mobile; and here’s the other startling fact: (more…)

Apple has announced a profit of $1.05 billion for the first quarter of 2008, up from $770 million in the same period last year. This came from revenues of $7.51 billion, up 43% year-on-year. During the quarter, Apple sold more than 1.7 million iPhones and 10.6 million iPods, with the latter representing a 1% increase (more…)