Amp’d Gets More Investment To Total $67 Million (including from UMG)

Amp’d Mobile has scored some more funding to bring the total invested in the company to $67 million. For those who’ve missed the hype, Amp’d is one of the few MVNOs forming that don’t have the backing of a large, pre-existing brand…and definitely the only one I’ve heard of that I think has any chance of succeeding. Funding has come from Universal Music Group (UMG), Highland Capital Partners, Columbia Capital and Redpoint Ventures.
UMG is an interesting investor…aside from equity in Amp’d the music giant will provide content for the MVNOs music channels, although not exclusively — other labels as well as independent artists and users will be able to offer music. However, “Amp’d will have the latest music videos available and programming from UMG’s IMF-International Music Feed channel currently available nationally on the DISH satellite television network”.
CEO Peter Adderton, who describes Amp’d as a mobile media service rather than a phone service, said he is discussing music content deals with multiple record labels.
Related stories:
Amp’d To Have Dual Delivery Of Video, Music
Amp’d Mobile: The Buzz Before TheĆ¢

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