UK - Index backs Last.fm

Founded in 2003, Last.fm managed to raise seed-capital last June, when a number of private investors took stakes.

According to Last.fm’s co-founder Martin Stiksel, the funding will be used to broaden its product offering, start translating the site into languages other than English, and to expand its business development efforts with the music industry. Last.fm’s business idea is to enable music promotion and to provide music title recommendations for its users by publishing other users’ tastes and listening habits. It generates sales via advertising, premium services, and selling recommended titles in partnership with Amazon and other e-tailers.

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• Topics
• Early-stage
• UK / Ireland