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TuneIn also announced today that the number of monthly active users has reached 40 million. TuneIn users are now free to access 7 10000 stations and 2 million on-demand on-demand programs.
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TuneIn said that the funds will be mainly used to expand the company’s technology and business operations. Earlier this year, there was news that TuneIn will finance the second round, the amount of $20 million to $30 million, led by Sequoia Capital and General Catalyst Partners. Industry insiders said that although the actual amount of financing is only $16 million, but enough to expand the sponsor company plan.
network radio TuneIn today announced a $16 million investment in a new round of financing. The main investors in this round of financing are General Catalyst Partners, and other investors include Jafco Ventures, shlf1314 venture capital shlf1314 Ventures and Sequoia capital. Sequoia Capital started investing in TuneIn as early as 2010.
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TuneIn CEO John · donham John Donham said: "our mission is to provide the best possible listening experience, for us, this is significant, because there are 40 million users to use the services of a month. The new investment will help us achieve our mission, increase the number of employees, promote product research and development, and strengthen marketing."
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