Smule Raises $3.9 Million in Venture Capital

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

  1. MacRumors macrumors bot


    Apr 12, 2001

    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. Mr. Giver '94 macrumors 68000

    Mr. Giver '94

    Jun 2, 2008
    Always good to see increased investments/funding for worthy developers. :)
  3. mkrishnan Moderator emeritus


    Jan 9, 2004
    Grand Rapids, MI, USA
    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. chr1s60 macrumors 68000


    Jul 24, 2007
    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. twoodcc macrumors P6


    Feb 3, 2005
    Right side of wrong
    great news! looking forward to seeing what comes out of this

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