VC-backed Deezer looking to raise €100m
French music streaming website Deezer is looking to raise a further €100m of funding, according to media reports.
The website is looking for international partners to support its expansion - several US venture firms are reportedly considering the offer. This next round could value Dezzer at up to €500m, 10x its 2011 turnover.
IDInvest and CM-CIC Capital Privé invested €6.5m in Deezer in late 2009, joining existing investor Dotcorp Asset Management. Telecom company Orange then invested in the business in 2010. Deezer has received €15m of funding since inception in 2007.
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