Music Streaming Service Deezer Closes €160M Capital Increase; Valued at €1BN
Summary
Deezer , a Paris, France-based global music streaming service, completed a capital increase of €160m from new and existing investors.Alongside the private placement, Rotana and Deezer have also signed an exclusive long-term agreement to distribute Rotana’s digital audio and video content in the Middle East and North Africa (MENA) region.The distribution agreement covers entertainment markets including Egypt, Saudi Arabia, Turkey and the United Arab Emirates.Founded in 2007 and led by Hans-Holger Albrecht, CEO, Deezer is a music streaming service that gives people access to a large and diverse global music streaming catalog on any device, including smartphone, tablet, PC, laptop, home sound system, connected car or smart TV.The company has offices in Berlin, London, Moscow, Miami and São Paulo, as well as in other key markets around the world.