TuneIn Planning to Invest Close to $25 Million Into Radio Streaming With the Help of Ex Google Employee
The latest round of funding by TuneIn has brought the company a substantial amount of revenue that the company plans on investing for the benefit of all online Radio Streaming channels out there. The strategy is formed and the team formed, including a new CFO brought in from Google after 10 years of employment.
TuneIn ha managed to gather funds of over $25 million and is going to invest the largest amount of it into the radio streaming business. TuneIn CEO John Donham has made public remarks in regard to the company’s plans to support monetization of online radio broadcasting, currently worth $30 billion. Axel Martinez has been co opted as the company’s new CFO, who previously gathered ten years of work for Google in various positions.
With over 70,000 radio stations available through TuneIn and one billion hours of user streamed programming during the first four months of this year, TuneIn sees this as a great opportunity to help broadcasters manage their earnings more efficiently in the future. The company didn’t want to go further into solutions it might have but most appreciate concrete results will show up really soon. “We want to further the value proposition of radio.” Donham said.