Beatnik Gets $30 Million in Funding
Beatnik (http://www.beatnik.com) has some good friends. It got a $30 million round of funding today from investors including PacificCentury CyberWorks, Media 100, Space Shower, Sun Microsystems and TheMTVi Group.
Early this year Beatnik filed for an IPO but it was officially withdrawn on May 1st. These are, after all, hard times for tech stocks.
"Strategic investments from these key firms will be used to supportBeatnik's implementation of a technology platform to deliver interactive audioto the Web, cell phones, set top boxes and Sun's Java technology," saidLorraine Hariton, Beatnik's president and CEO.
Beatnik provides technology behind Sun's Java Sound API. It has also had a long-term agreement with MTVi.