Adams Street Partners, Bessemer Ventures, Floodgate, Franklin Templeton and Shasta Ventures also participated in the funding. Reuters reported that the round valued the company $604 million, setting Smule up to expand in Asia and potentially, to go public.
Founded in 2008, Smule’s apps allow users to share different types of musical performances with others, and the company says it now has 52 million monthly active users. CEO Jeff Smith has said his vision is to “build a social network around music” while also helping to promote music.
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