In its last fiscal year, which ended on 31 March 2017, LiveXLive generated $225k of revenues while recording a net loss of $14.2m. How does its new owner’s business shape up? There are challenges, it’s fair to say. At the end of June 2017, Slacker had total assets of $6.5m, but total liabilities of $24.4m. Financials revealed by LiveXLive outline the state of Slacker’s business: in 2016 it generated $36.7m of revenues while recording a net loss of $10.5m. Now it’s buying Slacker, which has been a direct (albeit much smaller) rival for Pandora in the US. The company, which has historically pitched itself as a “premium live-music streaming network”, has also been signing up a number of digital influencers, including former Vine star King Bach and YouTuber/Viner Amanda Cerny. The deal is part of a flurry of corporate activity for LiveXLive, which recently agreed to buy Snap Interactive, which makes a range of social apps, for $34m including $20.4m in cash. Slacker had raised $75.7m of funding since its Series A round in 2007, so as exits go, this isn’t one of the more lucrative examples. LiveXLive has agreed to pay $44m in cash and $6m in stock for the service, which has 1.5 million monthly unique users including 400,000 paying subscribers. US music-streaming service Slacker Radio is being acquired by LiveXLive Media, in a deal that values the company at $50m. And if you don't have Internet access, don't worry all you have to do is activate the offline option.Tags: Acquisitions LiveXLive Slacker Radio US LiveXLive is a very interesting musical app thanks to which you can stream hours and hours of music selected especially for you. Another interesting option is the ability to create your own playlists and, even better, share them with friends. With this information, the app starts curating songs for you, and after just a few minutes, you can listen to playlists with tons of songs you like. The first thing you have to do on LiveXLive is to choose at least 20 artists you like. Subscribers can also download playlists and listen to them whenever and wherever they want, even offline. LiveXLive (previously known as Slacker Radio) is an app that, depending on your location, lets you listen to thousands of songs played on radio stations with playlists that are perfectly curated according to your preferences.
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