Deezer raises EUR 160 million to fund expansion

News Broadband Global 6 AUG 2018
Deezer raises EUR 160 million to fund expansion

Global music streaming platform Deezer has raised EUR 160 million in fresh funds from investors, including the Saudi-based Kingdom Holding Company, Access Industries, French operator Orange and LBO France. The cash injection takes Deezer's valuation past the EUR 1 billion mark. 

Deezer also said it had signed an exclusive agreement with Rotana, the Arabic music label owned by KHC which has a strong presence in the Near and Middle East, with a view to distributing music and video content in the Middle East and North Africa. 

Deezer has over 14 million active users and a catalogue of 53 million music tracks available in 180 countries. The funds will be used to finance the acceleration of its development, it said, and strengthen its presence in its key markets such as France and Latin America.

 

Categories:

Internet

Companies:

Orange,  Deezer

Regions:

Global

Tags:

Digital Music, Financial funding

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