Deezer to raise up to EUR 100 mln by summer - report

Friday 24 February 2012 | 08:36 CET | News
Orange music streaming subsidiary Deezer is seeking to raise EUR 50-EUR 100 million from an international partner before the end of the summer to pay for its international expansion. The operation will value Deezer at up to EUR 500 million, or ten times its 2011 revenues. Several US investment funds are said to be interested, Les Echos writes. Orange has ruled out reinvesting, which will dilute its 11 percent stake. Deezer was worth around EUR 80 million when Orange bought its share 18 months ago. Deezer is expanding its footprint to 200 countries, starting with every country in Europe and

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Categories: Internet
Companies: Deezer / Orange
Countries: World
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