When Slacker initially launched their three prong web, desktop, and portable music service, we felt they needed a lot of cash in the bank to take on incumbents like Last.fm and iTunes. It looks like they got that start, with the addition of a whopping $40 million on top of the original $13.5 million series A, according to PEHub. Centennial Ventures and Rho Ventures were new investors, with Austin Ventures, Mission Ventures, and Sevin Rosen Funds returning.
So far Slacker has released two of their three pieces, a web player, and a desktop player. Last.fm, which focused on a web and desktop player, sold for $280 million to CBS after raising $5 million. This additional cash will most likely be going toward product development and manufacturing for the TBA WiFi portable music player and satellite car kit.
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Music Mania tonight, wow. I can barely maintain like a 2GB playlist, much less a trans-universal media experience. I am getting old.
Are investors looking to write off losses in their tax statements?
I’m all for the perpetual beta, but again you still can’t listen to it outside the US. I presume they’ve still not sorted the music licensing?
What? Why invest after Pandora’s announcement that they’ll be doing it on mobile phones?
Stupid, Stupid, Stupid.