Beats Music is reported to have raised between $60m and $100m in a new round of funding. This follows it raising $60m almost exactly a year ago. Billboard reports that current investors – including Jimmy Iovine, Dr Dre and Access Industries – made the fresh round of investment. The money may go towards high-profile advertising and marketing activities as the company increasingly courts a mainstream consumer. This follows Beats acquiring Topspin last week and comes as rival Spotify went on its own spending spree, acquiring The Echo Nest last week, and rumours of it securing a $200m credit facility as it charges towards a possible IPO. While these services are locked in a high-profile struggle, this fight will ultimately be decided not on who has the best service but rather who has the deepest pockets.
Tools: platforms to help you reach new audiences
Tools: Kaiber
In the year or so since its launch, AI startup Kaiber has been making waves,…