Music video platform Vevo is reported to have secured $40m - $50m from Google subsidiary YouTube, as they renew their partnership.
Vevo, a US-based online platform for music videos, is reported to have secured $40m – $50m from Google subsidiary YouTube in return for a 7% equity stake, although the exact amount and terms of the deal are undisclosed.
At the same time as its investment, YouTube and Vevo have renewed a partnership under which YouTube features Vevo’s content. Besides its partnership with YouTube, Vevo also powers music videos on artist pages across Facebook.
YouTube said in a statement: “We made…
