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Katzenberg's WndrCo adds $11.5m to Mixcloud's mix
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Tuesday 17 April 2018

Katzenberg's WndrCo adds $11.5m to Mixcloud's mix

logoThere's no shortage of audio streaming websites and apps available to listen to, and with well-known 'elephants in the room' you'd wonder if there are any niches left for startups. Well, London-based Mixcloud found such a niche a decade ago and has since developed a sound reputation (if you'll pardon the pun) for long-form audio streaming.

Until now the business has been bootstrapped, but the company has just announced its first external funding, $11.5m, from WndrCo, the US investment house co-founded by media mogul Jeffrey Katzenberg.

It looks like Mixcloud is testing different business models, generating revenues from listeners, content providers and advertisers. The basic service is free for unlimited listening and uploads but of course includes ads. Premium (£4.99 p.m.) and Pro (£9.00 p.m.) services provide extra features.

WndrCo's investment aims to turn Mixcloud from what is currently a UK-centric curated streaming service into a global player. Sounds like they have the right backers on the case.

Posted by Anthony Miller at '08:27' - Tagged: funding   startup  

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