VENTURE CAPITAL POST

Santa Monica, US-based music streaming service Beats Music is looking to raise between $60 million and $100 million in a new funding round in a bid to keep up with bigger rival Spotify, as the Beats Electronics spin-off failed to attract the targeted number of subscribers since its January launch.

San Francisco, US-based digital music service Rdio picked up troubled Chennai, India-based music streaming startup Dhingana for an undisclosed sum as part of its strategy for international expansion.

Sydney, Australia-based music streaming firm Spotify snapped up Somerville, US-based music discovery engine The Echo Nest for an undisclosed amount to create an improved music discovery service for its clients.

San Francisco, US-based Internet radio startup 8tracks, a music service that is not yet widely known but already has 8 million active users, provides unique and awesome playlists and successfully maintains its profitability at the same time.

US-based e-commerce giant Amazon is reportedly in talks with big music companies about plans to offer its own music streaming service under it Prime membership, according to a report by Re/code citing anonymous industry sources familiar with the discussions.

US-based processor giant Intel acquired private hackathon organizer Hacker League for an undisclosed amount, in a deal that will merge the latter with Mashery, an Intel company.