Loudeye, the digital music and technology solution provider for the wireline and wireless industry, has raised $20 million in gross proceeds in a private placement of common stock.
The net proceeds of the offering, after commissions and expenses, will be used for working capital and general corporate purposes, including expansion of Loudeye’s B2B digital music solutions in the U.S. and internationally.
The latest funding follows a similar placement in August last year, in which it raised $12.2 million.
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