Amp’d Raises Another $107 Million Funding: Round 5

Amp’d Mobile, already heavily monetized (though that’s the nature of the business they are in) has raised another big round: $107 million, according to SEC filing, picked up by Dan over at PEHub. This fifth round was led by hedge fund Old Lane Management joining return backers like Columbia Capital, Highland Capital Partners, Redpoint Ventures, Intel Capital, MTV Networks, Tudor Investments and Universal Music Group. Moreover, Amp’d is currently pondering whether or not to accept additional cash, the story says.
Dan has some analysis of why the venture might work, despite the skeptics. I said as much in my Helio post a month or so ago: “The bleeding cash part is correct, but if anyone thought anything else, they had no idea of the economics of this industry. It is a very cash-heavy business, as any retail-and-advertising driven business is, along with the customer service backend, and to judge Helio, or Amp’d and even MobileESPN by Internet-usage-and-uptake standards is fundamentally myopic. Whether they will work or not is another story (and chances are they won’t), but the point is if they ever are to, then we need a more longer term rational view.”
Amp’d CEO Peter Adderton is a speaker/stage-setter at our EconSM conference in a month…we’ll have more from him then, if not before that.
Related:
Helio’s Numbers And The Art of Analysis
Helio Aims To Cross 100K Subs In Q2; Launches Music Service

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