JERUSALEM — A mobile phone app that allows users to send music to each another for free has raised $30 million from private investors including Russian billionaire and Chelsea soccer club owner Roman Abramovich.
Music Messenger, co-founded by Israeli entrepreneur O.D. Kobo and launched seven months ago, said on Tuesday that Abramovich had invested $15 million.
Other backers included Benny Andersson from pop band ABBA, artists David Guetta, Will.i.am and Avicci, and Gee Roberson, manager of Nicki Minaj, who is also an investor.
Music Messenger allows users to create multiple playlists and send music to each another's mobile phones for free. It is widely used as a promotional tool by the music industry as users get introduced to many songs.
The company has raised $35 million in total and is valued at more than $100 million, it said.
The app is attracting 1 million new users per month and is available in 10 different languages.
It plans to launch in China over the summer and is also focusing on Brazil, Russia and India.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
