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Social Music Service Rdio Secures $17.5 Million in Financing Round

SAN FRANCISCO Feb. 3, 2011 $17.5 million Janus Friis

Rob Cavallo Dave Matthews Band Alanis Morissette Janus Friis Drew Larner

Janus Friis

Mark Tluszcz

Drew Larner

Rdio is an unlimited, on-demand social music service that lets subscribers listen to music on the web and mobile devices, anytime and anywhere. Rdio’s key differentiator is its unique social design that emulates the way music has always been shared—from person to person. Rdio subscribers build and share their online music collections from a catalogue of over 8 million songs, and can see the listening activity, collections and playlists of those they follow. Subscribers can also see what’s in heavy rotation in their network and the Rdio community, top charts and newly released albums. Rdio has relationships with all four major labels (EMI Music, Sony Music Entertainment, Universal Music Group and Warner Music Group) and thousands of indie labels.

About Rdio

Janus Friis Janus Friis

About Atomico

March 2010 $165m London Sao Paulo Hong Kong

About Mangrove Capital Partners

Mangrove Capital Partners is committed to help turn entrepreneurial visions into realities as a means of driving capital appreciation for investors. Other Mangrove Capital Partners investments include Skype, Brands4Friends, Wix, KupiVIP, Bettymovil, Spreets and WooMe.


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