TuneIn, a San Francisco, CA-based online radio company, raised $50M in funding.
The round, which reportedly valued the TuneIn at approx. $500m, was led by Marker, Institutional Venture Partners and Comcast Ventures.
The company, which has raised $140m to date, will use the funds to continue to expand operations and to pay for rights to live sporting events and original programming.
Founded in 2002 by Bill Moore and led by CEO John Donham, TuneIn brings to 75 million monthly active users in the world a collection of sports, music, news, podcasts, and audiobooks — including live, on-demand and original content. The network has over 120,000 owned & operated and partner radio stations and more than 5.7 million on-demand programs from every continent, and is available for free across 200 platforms and connected devices.
Premium subscribers can listen to the NFL, MLB, NBA, NHL, over 90,000 audiobooks, and commercial-free music stations.