Mixcloud Raises Over $11 Million for Global Expansion
You are here

Mixcloud Raises Over $11 Million for Global Expansion

Mixcloud has announced that it has raised over $11 million in a fundraising round led by WndrCo, an investment company that is led by longtime Hollywood player, Jeffrey Katzenberg. This is the first time the U.K. based audio streaming company has gained attraction from outside its borders with the intention to expand the company globally.

The audio streaming service was founded in 2008 and claims to have over one million total audio creators on its platform. Mixcloud has a motto to “make radio better,” and the streaming platform plans to accomplish that after receiving a large investment fund that is intended to be spent on diversifying the platform. Subscription-based offerings may be a potential outcome from these changes, and with the company’s plan to expand across the world, especially in the U.S. market, it may have the tools to do just that. Mixcloud agreed to enter a direct licensing agreement with Warner Music Group last fall, and there are reports that the company may reach out to both Sony and Universal Music Group as well.

WndrCo partners Ann Daly and Anthony Saleh will be joining Mixcloud’s advisory board after the recent funding round, and co-founder Nikhil Shah claims WndrCo is an “ideal partner” for the company and its future plans. Saleh is currently managing Hip-Hop stars Nas and Future, and with major connections to the music industry, this partnership may be what Mixcloud was anticipating all along. Per Variety, Shah reiterates that WndrCo is “highly accomplished, and they are true operators with experience at some of the world’s leading media, entertainment, and tech companies.”

Mixcloud is clearly excited to expand its horizons with their recent funding. With the partnership of WndrCo, who raised $591 million last year, it plans to take off and separate itself from competitors. Time will tell if they will surpass Soundcloud and other audio streaming sites in terms of participation from users and success in revenue.

Mohammad Ali Sultani
Mohammad Ali Sultani
Mohammad Sultani is currently an undergraduate at the University of San Diego pursuing a degree in Political Science and English. As an experienced writer for various technology, law, and political news outlets, he has shown great potential in his writings and hopes to continue developing his skills. With the goal of becoming an established lawyer and writer, Mohammad is determined to help those in need on both ends of the spectrum.

    Leave a Reply

    Want to stay up-to-date with news and information from TechFunnel.com?

    Subscribe Now

    This website uses cookies to ensure you get the best experience on our website. Privacy Policy