Zvooq is a Russian streaming music company that also operates in Ukraine, Belarus, Moldova, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Georgia, Armenia, and Azerbaijan. Piracy rates are high in these countries and Zvooq hopes to convert people to legal streaming, both through free listening (ad supported) and paid accounts.
Zvooq has raised $20 million in Series A funding from Ulmart and Essedel Capital. The company says:
“The funds will be used to bolster and promote Zvooq’s leading freemium music streaming model that allows companies to integrate a free, legal streaming solution into their products. The platform converts illegal consumption of music into legal consumption by making it easy for any service to offer any kind of consumer music where they want it.”
Nina Ulloa covers breaking news, tech, and more. Follow her on Twitter: @nine_u