Social music startup Smule raises $54M for Asian expansion

Smule, maker of Sing! Karaoke and other social songs apps, declared yesterday that it has lifted $fifty four million in a round led by Chinese organization Tencent.

Adams Avenue Associates, Bessemer Ventures, Floodgate, Franklin Templeton and Shasta Ventures also participated in the funding. Reuters documented that the round valued the organization at $604 million, placing up Smule to grow in Asia and most likely to go general public.

Launched in 2008, Smule’s apps permit people to share diverse kinds of musical performances with other folks, and the organization claims it now has 52 million month-to-month lively people. CEO Jeff Smith has mentioned his eyesight is to “build a social community all around music” whilst also encouraging to promote songs.

Tencent, meanwhile, is the maker of the popular WeChat app, and it is also been investing in music and user-generated material.

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