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Russian Streaming Service Zvooq Raises $20 Million…

Screen shot 2014-08-19 at 3.14.19 PM

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.”

+YouTube Music Key Screenshots Leaked…

 

Nina Ulloa covers breaking news, tech, and more. Follow her on Twitter: @nine_u

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Comments (2)
  1. TuneHunter

    I guess, no need or chance for Spotify in Ukraine, Belarus, Moldova, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Georgia, Armenia, and Azerbaijan. We have solved the issue of discounted to $1.99 or less subs for Spotify! The can enjoy the hefty $4.99 semi-premiums in US.


    Reply
    1. their fault 100%

      Perhaps those countries you mention (I have worked in some of them and know from first hand how things are over there) could make more progress and work on their international relations in a more serious level than today. Then more companies would be willing to invest there.


      Reply

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