Turntable.fm Speculation: $37.5 Million Valuation? No Deal Yet?

Posted Jul 8, 2011

Yesterday Business Insider reported that music service Turntable.fm raised $7.5 million in funding at a $37.5 million valuation. TechCrunch then reported a direct quote from Seth Goldstein, the company’s co-founder, that they hadn’t closed any new financing. Taking Goldstein’s word for it, speculation returns to the rumors of who is competing for the company: Fred Wilson is reported the favorite because Turntable is NYC-based, but rumors say he’s being outbid by Kleiner Perkins and Accel.

The outcome of the bidding war remains unannounced and according to the company, isn’t even finalized. Meanwhile, the tech industry continues to buzz about Turntable.fm’s ongoing journey from startup to success. BetaBeat has a story about the company’s pivot from their unsuccessful venture Stickybits to the wildfire popularity of Turntable.fm. Another article at BetaBeat examines the web persona of DJ Wooooo, Turntable.fm’s most popular DJ.