Warner’s Pumps Cash Into Imeem and Lala
Music, News August 11th, 2008Apaprently Warner Music Group thought investing in Imeem was a better idea than suing them.
• Lala.com Launches With Streaming Music and Your PhotostreamPalo Alto-based startups Imeem and Lala.com have both scored funding from Warner Music Group, the firm has disclosed in its latest 10Q filing with the SEC. According to the SEC filing, Warner Music Group invested $20M in Lala.com, an online music site, and $15M in Imeem, an online music, video, and photo sharing site. Exact date of the investments was not disclosed, however came within the last nine months. Private equity publication TheDeal first uncovered the details in Warner Music Group’s 10Q. [Tradevibes]
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September 10th, 2008 at 7:39 am
Yeah Imeem is quite fine! It’s part of the websites which contributed to the revolution in the musical world. However, my favourite one in that context is http://www.deezer.com/en which brought real free and legal music-on-demand! It’s quite great, and it has quite a huge catalogue right now! Check it out.