Andre Yoskowitz
13 Oct 2009 13:20
The French free music-streaming service Deezer has brought in about $9.6 million in second round capital funding, this time from private equity firms AGF Private Equity and CM-CIC Capital Prive.
The company has about 10 million users, 6 million in France.
The site launched in 2007 after deals were signed with SACEM, Sony BMG and Universal Music Group.
Deezer's main competition is Spotify, the high profile streaming site that offers both free and subscriber-based services and a large catalog of tracks. Spotify is set to launch in the US later this year.
Deezer now has about $18 million in capital funding.