Turntable.fm Has Investors Hoping For Their Turn At The Table

Turntable.fm has quickly become one of the latest hot music startup and investors are beginning to take notice.

The music site allows users to become DJ’s and set up their own themed music room where their avatar can spin tracks from a large catalog of music. Other users can then enter the rooms and if they like what the DJ is spinning, they can reward them with points.

Users can listen to unlimited amounts of full-length songs and can easily interact and chat with other people in the room.

The startup, which is still invite-only, has garnered a huge following, and is constantly a trending topic on Twitter.

According to recent rumblings, the startup is being sought after by a handful of high profile investors hoping to get their hands in what might become the next huge music site.

Although Billboard reported to the contrary, the service has yet to close any financing round.

Speaking to Techcrunch‘s Erick SchonfeldTurntable.fm co-founder Seth Goldsteinsaid, “We have not closed any new financing”.

There is a lot of interest in the startup particularly from VC firm Accel, Kleiner Perkins, and Union Square’s Fred Wilson, the latter of who reportedly offered the company $25 million pre-money valuation. Accel and Kleiner Perkins reportedly offered $50 million.

For now, we’ll just have to wait and see who the startup chooses and how much they take in.

  1. rockonthestreets posted this