Social music startup Smule raises $54M for Asian expansion

Smule, maker of Sing! Karaoke and other social music apps, announced yesterday that it has raised $54 million in a round by Chinese company Tencent. 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… Read More...