Tunein Inc. raises $25 million

TuneIn Inc., a Palo Alto-based online radio company, announced it raised $25 million on Wednesday, drawing funds from International Venture Partners, Google Ventures, Sequoia Capital and General Catalyst Partners.

The company, located on 270 University Ave., also announced that it surpassed 1 billion listening hours in the first four months of 2013, with 273 million listening sessions in March alone.

CEO John Donham said the new funds will be used to develop new technologies, support expansion and focus on growing ad revenues.

TuneIn is a live, online radio service that streams more than 70,000 stations from across the world to listeners internationally. It was founded in 2002.

With its latest infusion, the company has raised a total of $47 million, including two previous funding rounds in 2010 and 2012.

In March, TuneIn launched a major platform redesign, TuneIn Live, which helps users find music and stations relevant to them.

The company also hired on Axel Martinez as its chief financial officer. Martinez was previously the assistant treasurer -- head of capital markets at Google Inc.


There are no comments yet. Please share yours below.

Post a comment

Posting an item on Town Square is simple and requires no registration. Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

We prefer that you use your real name, but you may use any "member" name you wish.

Name: *

Select your neighborhood or school community: * Not sure?

Choose a category: *

Since this is the first comment on this story a new topic will also be started in Town Square! Please choose a category that best describes this story.

Comment: *

Verification code: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box.

*Required Fields

Coming soon: Fire Oak & Barley in Palo Alto
By Elena Kadvany | 5 comments | 2,959 views

Meditation Before Medication for Better Mental Health
By Chandrama Anderson | 11 comments | 1,809 views

The Saddle Room – A True Friend of Kids
By Laura Stec | 2 comments | 1,790 views

The Four E's--Pope Francis and the Middle Class
By Steve Levy | 2 comments | 646 views