bop.fm, a digital music startup, closed $2m in funding.
The round was led by Charles River Ventures with participation from SV Angel, Y Combinator, FundersClub, Tom Ryan (former head of digital at EMI), Lew Moorman (President of Rackspace), Drew Patterson (founding VP Marketing at KAYAK; CEO of Room77), Schwark Satyavolu (founder/CEO of BillShrink/Truaxis), and Loic Le Meur (founder of LeWeb).
The company intends to use the funds to hire developers, as well as to expand its business development efforts.
Founded by Shehzad Daredia and Stefan Gomez, bop.fm is a digital music startup that combines offerings from all the major music services, allowing users to stream, watch, or buy any song online, regardless of their country, device, or music service. It automatically searches music services such as Spotify, Beats Music, Deezer, Rdio, Soundcloud, YouTube, iTunes, Amazon, and Google Play, taking user-service arrangements into account to generate a single stream and single purchase link guaranteed to work. Users can share links with friends without worrying about country availability or paywall blockages, and assemble playlists across service platforms.
The company, whose service has streamed over 50M songs since inception in December of last year, has partnerships with Beats Music, RapGenius.com, and others. It is also launching Verified Artist Pages, in partnership with major artists such as Tiesto, Snoop Dogg, Lil Wayne, and Paul McCartney.
FinSMEs
11/07/2014