Current Issue
This Month's Print Issue

Follow Fast Company

We’ll come to you.

1 minute read

Tech Forecast

Beats Gets $60 Million For Music Streaming, But It's Not From Apple

VCs grab a Daisy, and groove to the future of streaming music.

Beats Electronics has just won some $60 million in fresh investment cash for its upcoming music streaming service, codename Daisy.

The cash comes from a group led by Len Blavatnik, a billionaire investor whose investment vehicle Access Industries has previously tried to bid for Metro-Goldwyn-Mayer, proving his interest in modern media. Apple was recently rumored to have been in discussions with Beats over project Daisy, presumably because it's long been planning its own streaming music service within iTunes. Google is also planning a streaming music service, which may use content from Warner Music, and today Facebook is expected to unveil a redesign that places streaming music more centrally in its social networking system.

[Image: Flickr user mujitra]