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Dubsmash Adds $9.6 Million For Viral Music Video Lip-Sync App

image from crunchbase-production-res.cloudinary.com[UPDATED] Dubsmash has added $9.6 million in funding to expand its popular music video lip-sync app.  Fan generated music videos have become a major marketing tool for labels and artists.  But will revenue to rights holders follow?  

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image from www.dubsmash.com
Berlin based Dubsmash has added $9.6 million in series B funding to expand its viral music video lip-sync app. The startup had previously raised $6 million.

Sunstone Capital led the new round, with participation from Index Ventures, Balderton Capital, Eniac Venture and Lowercase Capital. Index ventures, which led the series A round, did not participate.

Video sharing is a crowded sector with Musical.ly the front runner. But Dubsmash continues to grow, with TechCrunch reporting that its adding a million new users every five days and has surpassed 140 million downloads, double that of the same time last year.

image from www.dubsmash.com

 

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