Smule Raises $3.9 Million in Venture Capital

Discussion in 'iOS Blog Discussion' started by MacRumors, Feb 16, 2009.

  1. macrumors bot

    MacRumors

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    MacDailyNews reports that Smule, creators of the popular iPhone applications Ocarina [App Store] and Zephyr [App Store], have raised $3.9 million in a round of venture capital financing led by Granite Ventures.
    The $3.9 million round represents one of the largest announced funding events for iPhone-related companies and is particularly impressive given the recent economic downturn.

    Previously, the iFund was announced in March 2008 by the venture capital firm Kleiner Perkins Caufield & Byers (KPCB) as a $100 million fund to support companies developing applications and services for the iPhone and iPod touch. KPCB later announced in September 2008 that they had funded five companies for a total of approximately $30 million.

    Article Link: Smule Raises $3.9 Million in Venture Capital
     
  2. macrumors 68000

    Mr. Giver '94

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    #2
    Always good to see increased investments/funding for worthy developers. :)
     
  3. Moderator emeritus

    mkrishnan

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    #3
    I think it's a good sign of continued development of an ecosystem around the iPhone. If this continues and the premium games rumor turns out to be correct and/or other actions are taken to onboard more established developers, this all bodes very well for the App Store.
     
  4. macrumors 65816

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    Not only is this good for developers, but Apple is banking a lot of money from these high selling apps. It would be interesting to see the total revenue that has revolved around the app store alone over the past 7 months.
     
  5. macrumors P6

    twoodcc

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    great news! looking forward to seeing what comes out of this
     

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