Bubble? What bubble? You know the music tech space is still hot when Music Messenger, an app that allows users to share free music, raises $30 million from a Russian billionaire a soccer club owner and a who's who of musicians.
Music Messenger, a mobile app that allows users to send palylists to friends for free has raised $30 million from a diverse group of private investors. Music Messenger is now valued at $100 million and had previously raised $5 million.
Participants in the new round including a Russian billionaire and Chelsea soccer club owner Roman Abramovich who has invested $15 million in the startup to date. Other investors included Benny Andersson from ABBA, David Guetta, Will.i.am, Avicci and Gee Roberson, the manager of Nicki Minaj, who is also an investor.
The app is reportedly adding 1 million new users a month. It will launch in China this summer followed by Brazil, Russia and India.