New York — Turntable.fm, the buzz-worthy online music startup, was reported to have raised $7.5 million in a round of funding Friday. But then it wasn’t.
The funding round was reported by Business Insider. Later, however, TechCrunch reported that co-founder and chairman Seth Goldstein told them, “We have not closed any new financing.”
Turntable.fm, which famously pivoted out of a failed venture called Stickybits, is meeting with a number of venture investors who have expressed interest in the company, BetaBeat reported. Accel and Kleiner Perkins are two of the venture capital firms said to be among those taking meetings, with Union Square’s Fred Wilson rumored to have offered Turntable a $25 million pre-money valuation.
Potential acquirers aren’t just top-tier VCs — companies such as Sony, AOL and Facebook are also included in the rumor mill swirling around who might want to buy or invest in the young company.
Turntable.fm investor and First Round Capital principal Charlie O’Donnell recently tweeted, “If Turntable.fm asked me to pay a subscription to take it mobile… I’d do it in a heartbeat,” Business Insider reported.
Launched in May and so far available only to invited members, the music startup has gained over 300,000 users, including DJ Sir Mix-A-Lot and venture capitalists Bijan Sabet and Fred Wilson.
Related Links:
http://tinyurl.com/3klnsf3 (Betabeat)
http://tinyurl.com/6e27hap (TechCrunch)
http://tinyurl.com/432ra7s (Business Insider)
