(MENAFN- Arab Times) Indian streaming music service Saavn has raised a $100 million Series C round of funding led by Tiger Global, with existing investors, including Liberty Media and Bertelsmann, shipping in as well. The company is also announced some new growth metrics Tuesday, revealing that it now has 14 million monthly active users. Saavn, which is headquartered in New York, is a kind of Indian Spotify: The company is offering users in India free on-demand access to millions of songs, with a heavy focus on Bollywood tunes and other local favorites. Saavn has a heavy focus on mobile, where it makes all of its music available for free, without restrictions. Spotify itself isn't available in India yet, but Saavn recently got some competition from Rdio. The company acquired local music streamer Dhingana a year ago, and then relaunched the service under its own Rdio brand in January. Daniel Ek is the CEO and founder of Spotify.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.