SEC Filing Shows That Warner Music Group Invested $20 Million in Lala.com and $15 Million in Imeem
Warner Music Group Corp. (NYSE:WMG) has invested in two Silicon Valley online music companies, Imeem and Lala.com. Imeem is a music, video, and photo sharing social networking website. Lala is a music streaming website.
Within the last year, imeem acquired SNOCAP and Anywhere.FM. imeem has over 24 million uniques per month and their widget reaches over 100 million users per month.
Lala.com has 5 million songs in their catalog that users can play for free. Users can add songs to their collection for 10 cents and buy MP3s for 79 cents.@amitchowdhry or on Google+ at +AmitChowdhry