Access Industries, Orange and Rotana have committed capital to the music streaming platform, which raised the cash at a $1.16bn valuation.
France-based music streaming service Deezer secured €160m ($185m) in funding yesterday from investors including diversified conglomerate Access Industries, telecommunications firm Orange and entertainment producer Rotana Group.
Diversified holding company Kingdom Holding also contributed to the round, which valued Deezer at $1.16bn, as did private equity firm LBO France.
Founded in 2007, Deezer runs a music streaming service with 14 million users and a catalogue of more than 53 million songs. It offers a range of subscription packages including a free, advertising-supported…
