Smule, maker of Sing! Karaoke and different social music apps, announced yesterday that it has raised $54 million in a spherical led by Chinese language firm Tencent.

Adams Road Companions, Bessemer Ventures, Floodgate, Franklin Templeton and Shasta Ventures additionally participated within the funding. Reuters reported that the spherical valued the corporate at $604 million, organising Smule to increase in Asia and probably to go public.

Smule CEO Jeff Smith Is Weirdly Optimistic About The Music Industry
Social Music App-Maker Smule Raises Another $16.6M

Based in 2008, Smule’s apps enable customers to share various kinds of musical performances with others, and the corporate says it now has 52 million month-to-month energetic customers. CEO Jeff Smith has mentioned his imaginative and prescient is to “build a social network around music” whereas additionally serving to to advertise music.

Tencent, in the meantime, is the maker of the favored WeChat app, and it’s additionally been investing in music and user-generated content.

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