Loudeye obtains $20 million in equity financing
Loudeye Corp., provider of digital music solutions, has received $20 million in funding from the private sales of common stock. Loudeye sold 10.8 million shares of common stock at $1.85 per share to institutional, strategic and accredited investors.
The company says it will use the net proceeds for working capital and general corporate purposes, including expansion of Loudeye`s business-to-business digital music services in the U.S. and internationally.
Loudeye makes its extensive digital music archive available to retailers and other partners to launch complete, customized digital music stores and services.
Back...
