VENTURE CAPITAL POST

Music streaming giant Spotify has announced a significant workforce reduction, saying it will lay off 17% of its employees.

Music streaming company Spotify raises $ 1 billion deal through financing in the form of convertible debt. TPG rounded the funds together with Dragoneer along with other institutional investors. The deal placed by Goldman Sachs is expected to close on April 2.

The streaming service company on Wednesday reached the deal over music royalties with the National Music Publisher's Association (NMPA). Spotify will pay $21 million worth of royalty to publishers and songwriters.

Apple Music has gained another million subscribers, following its previous 10 million members. It means that Apple is chasing to compete tightly with its competitor, Spotify.

Pandora Media Inc has engaged Morgan Stanley to facilitate the selling itself including identifying potential buyers. Pandora has been spending heavily to attract more number of users amid increasing competition in internet radio space.

A startup focusing in the student accommodation markets just received $60 million from high-profile firms and individuals, led by VY Capital. Student.com will use the funds to expand its presence and service in the promising markets of international students accommodation. For now, most of Student.com's bookings came from Asia-based students.

After launching the public beta version in December, owners of Sonos system will now be able to enjoy Apple music service. The features will be available starting Wednesday morning.

Roger's walkie-talkie style voice messaging app that launched in 2015 gets a financial backing of $1 million from Social Capital. The new feature was created by ex-Spotify employees, Ricardo Vice Santos and Andreas Blixt, who have done complete justice to the phrase 'selling old wine in new bottle'. In the current scenario where voice messaging is no longer a novelty, Roger hopes to tap the market outside Asia where people are still stuck with texting, and win them with its simple, three-button structure.

Paris-based music streaming service Deezer has raised around $109 million in a Series E round of funding led by Access Industries. The latest funding will help the company to attract more subscribers even after putting their IPO plan on halt.

Spotify and Genius work together to provide a better and deeper music experience for their users. Fact Tracks shows lyrics, along with annotations from the community or the artist itself.

This Christmas eve of this year has come up with another good news for the music fans. The Beatles' catalogue will soon be arriving on streaming services.

Spotify is now the world's most popular streaming music service, according to a new report from app analytics firm App Annie. The report also disclosed that Spotify has defeated ts biggest competitor; Pandora in terms of active users, downloads and revenue.

YouTube launched on November 12 its new YouTube Music app, which is designed to make searching for music in the video streaming site easier. According to The Verge YouTube may be a video streaming service and it even acts as a search engine, but it is also one of the largest music streaming service providers in the world.

The great Abbey Road Studios is entering into the tech industry as it wanted not only to act as a recording studio but also as a music technology incubator. The plan was revealed by the Universal Music Group in a ceremony at the Studio 2 on Wednesday night. It will assure their continued reliability amidst technology era.

Mobile apps give a lot of benefits in more ways than one. You will never miss out on your favorite show or favorite basketball or football game because you can now watch it just by using your phone.