The social music app developer has raised $54m in a Tencent-led round that valued it at $604m and will now look to expand in Asia.
Internet company Tencent led a $54m financing round for US-based music sharing platform Smule on Monday that valued it at $604m, according to Reuters, which cited a source familiar with the situation.
The round also featured existing backers including Adams Street Partners, Bessemer Venture Partners, Floodgate, Franklin Templeton, Granite Ventures and Shasta Ventures.
Founded in 2008, Smule has built a series of social music apps including collaborative karaoke app Sing! Karaoke, piano rhythm platform Magic Piano and AutoRap, which converts…
