Startup Stationhead was a pioneer of what we’ll slightly-awkwardly call ‘user-generated streaming radio’ with its app that let anyone broadcast their own station tapping Spotify and Apple Music for the music. But with Spotify’s musical podcasts format and Amazon’s Amp, it’s now facing competition from two of the biggest streaming services.
Time to flee? No, Stationhead is going to fight, and now it has a new $12m funding round to back it up. Investment firm Buttonwood Group Advisors led the round, with Diplo, Red Light Management, TMWRK, Round Hill Publishing, Avex Entertainment, Atlantic’s Craig Kallman and Julie Greenwald, 300’s Kevin Liles and Lava Records’ Jason Flom also chipping in.
Stationhead also said that it now has more than five million users and 30k stations, with those users averaging two hours of daily listening each.
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