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.


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