San Francisco – Music streaming service Rdio announced on
Thursday that it has raised $17.5 million in new financing.
Mangrove Capital Partners joined previous backers including Atomico, Skype and
Rdio co-founder Janus Friis.
Founded in 2008 by Skype and Kazaa creators Janus
Friis and Niklas Zennstrom, San Francisco-based Rdio offers an unlimited subscription
music streaming service for the Web and mobile devices.
The company will use
the funds to expand to new platforms and regions in 2011, as well as to hire